I am comfortable with this explanation.  It seems to me a pretty trivial matter to wrap your previously audited filings into the most recent 10K. I am confident that the SEC is done with the 2011 10K and that no further actions are forthcoming.

However, I am disappointed that such a simple thing went unaddressed and was allowed to escalate to point where the SEC decided to make the whole thing a matter for the public. This is really something that your auditors should have handled back in August or certainly December. This truly is an unnecessary distraction.