(Total Views: 480)
Posted On: 11/18/2020 8:29:35 AM
Post# of 4319
From talking with Henry this is whole picture as I see it.
Henry has been trying to audit Vinafilms forever. They are a company in a communist country that most likely has terrible books and all these companies have to bribe the government to get things done IMO. The auditor doesn't feel comfortable putting his name on a filing where he most likely sees corruption in the company IMO. Henry knows he has to file soon because he is running out of time. He is trying to delay as long as possible hoping to get the audited financials finished on Vinafilms. Henry will also be notified by the SEC when they start the process of revoking PHIL's registration. When Henry gets that communication from the SEC he will file audited financials without Vinaflims if he has to. He can always amend the filings at a later date to include Vinafilms if he is ever able to get the company audited. Bottom line filings will happen to stay listed on the pink sheets because there is no other choice.
Henry has been trying to audit Vinafilms forever. They are a company in a communist country that most likely has terrible books and all these companies have to bribe the government to get things done IMO. The auditor doesn't feel comfortable putting his name on a filing where he most likely sees corruption in the company IMO. Henry knows he has to file soon because he is running out of time. He is trying to delay as long as possible hoping to get the audited financials finished on Vinafilms. Henry will also be notified by the SEC when they start the process of revoking PHIL's registration. When Henry gets that communication from the SEC he will file audited financials without Vinaflims if he has to. He can always amend the filings at a later date to include Vinafilms if he is ever able to get the company audited. Bottom line filings will happen to stay listed on the pink sheets because there is no other choice.
(0)
(0)
