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To: Mr. Jens Tingleff who wrote (26884)3/4/1999 1:48:00 PM
From: Meteo_Dan  Read Replies (1) | Respond to of 27968
 
Anyone know Steve Corso's phone number? I think we need to ask how far along he is with his 1998 audit....Isn't this about the same time last year that the 1997 "AUDITED" numbers of .1085 per share were released to the public?



To: Mr. Jens Tingleff who wrote (26884)3/4/1999 4:28:00 PM
From: R. Murphey  Respond to of 27968
 
Jens, How right you are!

It is their job to test the records and statements, to get verifying evidence from third parties, to verify procedures and methods are sound practices, and place their license, professional reputation or even their firm on the line for failing to do an adequate job in accordance with generally accepted practices.

Good accountants are a necessary pain and benefit, but bad ones deserve all the hel* investors and owners can give them. Of course, if they are given incomplete, misleading, or fraudulent records/books, they cannot exactly turn back the clock to observe the transaction taking place. Then they should clearly identify in their report, any omissions, defects, and misrepresentations as best they can.

I seem to recall someone saying the audit had not begun as of the 2/10/99 meeting. Now they are going to be finished with certified results within about 45 days????? Just from a logistics standpoint, I'm curious how they get the verifications from the vendors, banks, clients, and government agencies that quickly when the last audits took 1-2 years.

Yes, I would hope Corso's group got things organized and that it wouldn't be that hard this time. Nevertheless, surrounding the 2/10/99 meeting, there seemed to be a lot of discrepancy in the management ranks about 1) what the running numbers were, 2) their value and 3) their accuracy. It will be interesting.

Regards,
Bob.