Posted On: 01/02/2014 12:13:30 PM
Post# of 3844
8K is out with two amendments. Sadler has resigned as the EWSI auditor. Seems like there was a bit of a strained relationship anyway as EWSI filed both Q2 and Q3 on time but without Sadler approval. This is clearly explained in the 8K plus the two amendments filed today (one amendment is for Q2, and the other is for Q3...gotta keep the records keeping squared away for EWSI, Sadler, and the SEC). It is quite clear that there have been some accounting issues coming out of EWSI's China operations that didn't quite measure up to GAAP for Sadler and subsequently forced some friction between EWSI and Sadler.
All that being said, I do believe we're all in a much better position moving forward now and the new auditor actually has an office in Shanghai and can be considered boots on the ground to ensure there are no more issues with paperwork coming from that particular geography for EWSI's financial filings. This is awesome actually.
THE MOST IMPORTANT ITEM HERE IS THAT EWSI HAS CONTINUED TO FILE ON TIME WITH THE SEC. THEIR NUMBERS ARE MOST CERTAINLY SOLID AS A ROCK AND WILL PROVE TRUE AS MALONEBAILEY WILL PRODUCE AN AUDITED 10-K FOR 2013.
I AM VERY VERY EXCITED FOR THE COMING YEAR AND I'M THANKFUL THAT I WILL NO LONGER BE APPREHENSIVE ABOUT WHETHER OR NOT FINANCIAL FILINGS WILL BE ON TIME OR NOT!!! MALONEBAILEY UNDERSTANDS CHINA AND THEY WILL ENSURE THAT REPORTS COMING OUT THAT AREA ARE IN ACCORDANCE WITH GAAP STANDARDS.
JUST MY TWO CENTS.
NOW LETS HEAR ABOUT GROSS REVS IN THE FINAL QTR!! MY GUESS IS 7 - 8M GROSS ON 25 PERCENT GROSS MARGINS AND ANOTHER 2 - 2.5M LOSS (ACCEPTABLE IMO BASED UPON HUGE GROWTH).
SORRY ABOUT THE ALL CAPS...(LOL)
All that being said, I do believe we're all in a much better position moving forward now and the new auditor actually has an office in Shanghai and can be considered boots on the ground to ensure there are no more issues with paperwork coming from that particular geography for EWSI's financial filings. This is awesome actually.
THE MOST IMPORTANT ITEM HERE IS THAT EWSI HAS CONTINUED TO FILE ON TIME WITH THE SEC. THEIR NUMBERS ARE MOST CERTAINLY SOLID AS A ROCK AND WILL PROVE TRUE AS MALONEBAILEY WILL PRODUCE AN AUDITED 10-K FOR 2013.
I AM VERY VERY EXCITED FOR THE COMING YEAR AND I'M THANKFUL THAT I WILL NO LONGER BE APPREHENSIVE ABOUT WHETHER OR NOT FINANCIAL FILINGS WILL BE ON TIME OR NOT!!! MALONEBAILEY UNDERSTANDS CHINA AND THEY WILL ENSURE THAT REPORTS COMING OUT THAT AREA ARE IN ACCORDANCE WITH GAAP STANDARDS.
JUST MY TWO CENTS.
NOW LETS HEAR ABOUT GROSS REVS IN THE FINAL QTR!! MY GUESS IS 7 - 8M GROSS ON 25 PERCENT GROSS MARGINS AND ANOTHER 2 - 2.5M LOSS (ACCEPTABLE IMO BASED UPON HUGE GROWTH).
SORRY ABOUT THE ALL CAPS...(LOL)
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