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Microcap & Penny Stocks : JAWS;A P/E of 2 with 150%/yr Erngs Growth!! -- Ignore unavailable to you. Want to Upgrade?

To: Zeus549 who wrote (3078)	10/6/1998 11:56:00 AM
From: JOHN B FAIRBANKS 1V C.P.A	Read Replies (1) \| Respond to of 4230

Capital Gain Law Change IRS Restructuring and Reform Act of 1998. The time that an investment must be owned to yield long term gain has been reduced to more than 12 month from more than 18 months. RETROACTIVE TO JANUARY 1, 1998. Enjoy!

To: Zeus549 who wrote (3078)	10/6/1998 12:01:00 PM
From: JimBeamII	Read Replies (2) \| Respond to of 4230

Zeus Go to Free Edgar, www1.freeedgar.com, and you can review completed K-10s for any company that has filed. It would not be unusual for a company's submission to be rejected the first go around for technical non-compliance. Generally, a small company's books (prior to going public and/or submitting the form) are maintained by minimal staff who have inherited the original owners' accounting system. Sometimes, if not frequently, the original accounting system will have to be completely re-done in order to meet the criteria for public reporting. This may explain a lot of delay that I've seen posters here concerned about. Just IMO... jb

To: Zeus549 who wrote (3078)	10/7/1998 12:15:00 AM
From: Jim Johnson	Respond to of 4230

Zeus, A while back my partner and I were considering taking our company public. Our books have been watched over by a CPA for the last 5 years. We have an excellent Corp attorney that has taken many companies public and knows exactly what it takes. I will tell you what he told us regarding the financials. First, our CPA said though he is familiar with our books and SEC requirements in general, he does not have the expertise necessary to do the actual audit, plus it has to be done by an accredited form. He does know the right people to do it and if he works closely with them, the audit could be done in about 90 days, but if that time span carried us into another quarter then additional time would be needed to add that last quarter to meet the timelyness requirement. (I won't even go into the cost here, but it AINT cheap!) Our atty said once the audit is completed he could fill out the necessary forms and such in a matter of a week or so, hire the firm necessary (and required) to electronically transmit the info. He said inevitably the SEC comes back with remarks on how they would like to see a little something worded a little different or have a few questions about the numbers. Anyway, he said to expect to do at least two submittals and probably three....all in all expect it to take a minimum of 90 days and possibly longer. He said that even though he has taken dozens of companies public and knows well what they want and how they want to see information reported, it is a virtual impossibility to get total acceptance with the initial submittal. Now, I know nothing of the bookeeping of JAWS and how it has been done or whatever, what I am telling you is what I have been told by a very knowledgable person. If you desire to speak to him I will give you his name and phone number in a PM. Jim J