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Microcap & Penny Stocks : Microphonics Inc. (mrps) -- Ignore unavailable to you. Want to Upgrade?

To: learnstocks who wrote (6839)	5/18/1999 10:55:00 AM
From: Brian D. Potts	Respond to of 8189

I agree with a lot of what you say, learnstocks. But not everything. For instance, I believe doing financial statements for the first time is probably the most difficult. Having not been through this procedure before they are most likely not sure what information an accounting firm/auditor will ask for. My question then becomes does the accounting firm need to audit the entire six year past in order to be accurate? I would think so. This would make this project even more complicated. I agree accounting firms do auditing. I work in information systems for the finance department of a company. Typically when an audit occurs the auditors simply ask for reports and data to verify reported numbers. We have a team of people to "attack" these requests and have a hard time with some requests. With only six people these requests may be more difficult to satisfy on a timely basis. My comment about the printer paper was meant to be humorous. Sorry if this didn't come through. "body language" is tough to interpret in a text post. I agree if financials are delayed, someone at MRPS should know about it. I bet they do. Many of the comments I made were simply "off the cuff", that may be why they "don't make sense at all" as you said. However I also believe the comments you made, such as (and I paraphrase) 1. if the audtors are having problems, there is a really big problem somewhere with MRPS. 2. The next PR will not give the company credibility are "off the cuff" and unsubstantiated. I'm not a hypster. There may be a problem getting the financials straight. I don't think there is a problem with MRPS. Would this even be an issue if MRPS didn't say they were going to report financials. They don't need to, they are a bulletin board stock. My question is, why would they announce they are going to start filing financials if there was a problem? Why not just let it sit? Time will tell Good luck in your investing bdpotts