"Update to Shareholders 7 October 2012 admin | Oc

"Update to Shareholders 7 October 2012
admin | October 7, 2012


It’s been well over a month since my last update regarding significant items for Rapid Fire Marketing. So here is an itemized update for shareholders regarding Rapid Fire Marketing’s Corporate Business:

FUNDING

Obviously, by now most investors are aware that we have closed on a $2.2 million funding package. This funding is long term and has much better terms than the short term funding this Company has been doing for years. This package will take care of nearly all of our financial needs for foreseeable future. Many thanks go to our corporate team for getting this financing done.

10K

As mentioned in the last update, our 10K had to be written in a fashion that no questions from auditors would arise during my time as CEO and for the 2 years before that. Over the last 2 ½ years, there have been 3 individuals serving as CEO of this Company including myself, which means tracking down a lot of records for the time period before I took over. Once the first version of the 10K was complete, we have done an internal audit and decided that many of the entries for the period beginning March the 15th (the day I took over as CEO) all the way back to January of 2010 needed additional explanation to get through the audit.

So, to that end, we will have the 10K completed and to auditors as quickly as possible and hopefully this week. I know that this is disappointing to many of you but we cannot rush the 10K to the auditors for the sake of getting it filed because… The 10K must pass the audit and all questions answered before we can file it with the SEC.

Hopefully this answers your questions.

As I have said so many times before, we would get better funding and we did. We will get this Company fully reporting and we will get this Company out of the Pinks and onto the OTCBB.

Tom Allinder
CEO
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