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Posted On: 08/16/2017 10:15:36 PM
Post# of 96892
Audited financials- four things give me hope the upcoming financials will be audited,
1. Very early this year both IR and David indicated to me the company could not afford to pay for the cost of audited financials and that they would need to put their minimal cash on hand to better use. All that has now changed. In the last month although neither will confirm the books will be audited, they are NO longer saying it will not happen but that we will just have to wait until they are posted late Sept.
2. We now have a 21M fund to pay for the cost so this is no longer an excuse
3. All the last set of quarterlies going back several years have been revised and posted. That is big deal.
4. The institutional investor would not lay down 21M without audited financials
I would add a #5 that our CEO stated in the Oct 2106 SH letter that 2016 would be the last year of annual reports that were not audited however NTEK managemets track record on this particualr promise is abysmal.
There you have it. IMO we will see audited financials and look for this to happen most likely late September.
1. Very early this year both IR and David indicated to me the company could not afford to pay for the cost of audited financials and that they would need to put their minimal cash on hand to better use. All that has now changed. In the last month although neither will confirm the books will be audited, they are NO longer saying it will not happen but that we will just have to wait until they are posted late Sept.
2. We now have a 21M fund to pay for the cost so this is no longer an excuse
3. All the last set of quarterlies going back several years have been revised and posted. That is big deal.
4. The institutional investor would not lay down 21M without audited financials
I would add a #5 that our CEO stated in the Oct 2106 SH letter that 2016 would be the last year of annual reports that were not audited however NTEK managemets track record on this particualr promise is abysmal.
There you have it. IMO we will see audited financials and look for this to happen most likely late September.
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