Posted On: 12/15/2016 2:22:01 PM
Post# of 22465
Suny, did you read the words that you copied from the regulations into post 4174?
The words you quoted require "audited financials” from "most recent fiscal years" , not the latest up-to-date contract info. QMC's fiscal year ends June 30 and that audited information is provided in the 10-Ks. In addition, the info in the 10-Qs is not audited so not relevant when the regulation requires audited info.
Also, you quoted “Any financial statement schedules or exhibits or separate financial statements which may otherwise be required in filings with the Commission may be omitted.” The 10-Ks are required to be in separate filings made directly to the SEC and can therefore be omitted from the Proxy.
Per Suny: The key here is "Funded Development Agreement" It has to be a financial statement of its material relevance signed buy an auditor to be included in and stipulated in the proxy information packet to shareholders.
The funded development agreement was announced on 9/22/2015 and included in this 8-K in 2015. The material impact of the FDA ($225,000 in revenue) was included and discussed in the audited 2016 10-K. The October PR on this subject was just a status update and contained no material information.
The words you quoted require "audited financials” from "most recent fiscal years" , not the latest up-to-date contract info. QMC's fiscal year ends June 30 and that audited information is provided in the 10-Ks. In addition, the info in the 10-Qs is not audited so not relevant when the regulation requires audited info.
Also, you quoted “Any financial statement schedules or exhibits or separate financial statements which may otherwise be required in filings with the Commission may be omitted.” The 10-Ks are required to be in separate filings made directly to the SEC and can therefore be omitted from the Proxy.
Per Suny: The key here is "Funded Development Agreement" It has to be a financial statement of its material relevance signed buy an auditor to be included in and stipulated in the proxy information packet to shareholders.
The funded development agreement was announced on 9/22/2015 and included in this 8-K in 2015. The material impact of the FDA ($225,000 in revenue) was included and discussed in the audited 2016 10-K. The October PR on this subject was just a status update and contained no material information.
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