Why is it that all quarterlies disclose only the C
Post# of 43066
Posted On: 06/27/2014 2:04:40 PM
Quote:
Why is it that all quarterlies disclose only the CEO and CFO reviewed them for accuracy?
https://www.sec.gov/Archives/edgar/data/13811...jbiinc.htm
https://www.sec.gov/Archives/edgar/data/13811...jbiinc.htm
https://www.sec.gov/Archives/edgar/data/13811...jbiinc.htm
https://www.sec.gov/Archives/edgar/data/13811...jbiinc.htm
Let me guess they forgot to attach the certificate for the reviewing audit firm.. am I right or am I right???? They also forgot to disclose that an auditing firm aided in the REVIEW process of their quarterly, seems that piece of dialogue is missing in every quarterly also.
Quote:Item 4. Controls and Procedures
Management’s Report on Internal Control over Financial Reporting
Under the supervision and with the participation of our management, including our chief executive officer (CEO) and chief financial officer (CFO), we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of September 30, 2013. Based on this evaluation, our CEO and CFO concluded that our disclosure controls and procedures are ineffective to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to the Company’s management, including the Company’s CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.
Let me guess they lied here in this statement of their INTERNAL CONTROLS for reviewing their quarterlies?
Because it is complete BULLSHIT that there is a requirement for an outside review, as securities laws clearly state for small and microcap securities they are subject to only their own internal review on quarterlies since they cried foul to the costs of SOX compliance. Rightfully so for some real small businesses that actually have profits and do not pay their insiders 6 figures for running insolvent businesses.
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