Yes, it is getting pretty dire at this point IMO.
Post# of 11899
Yes, it is getting pretty dire at this point IMO. There are only six more trading days in this year. Shareholders deserve to at least know if the audit is not going to be finished by the end of the year. We need a shareholder update with real answers about delays. I can understand delays but when there are only promises month after month and/or no word at all, begin to become concerned I do. By way of discipline, I told myself I would dump my entire RFMK position if there was no audited 10K by end of 2012, but that was back in Aug, Sept, Oct, Nov...etc. Now it's looking like no audited 10K in 2012 so I am not really sure where that leaves me. My sentiment for the fundamentals of the company could not be more bullish, I have extreme hopes for the product and the ability for management and MCM to take the company to success, however without basic transparency, I simply am not certain of anything and so I do not yet know what I am going to do if nothing happens. It's really a shame. I thought by chance perhaps they would get it done before the MJ elections, but that did not happen, so I figured by end of year it should be complete, but that is not happening. It's not even about a "catalyst" at this point, it's about basic transparency and credibility. Even if there is no product, no sales, no marketing, no contracts, nothing, then at the very least, the corp should have the money, time and effort to provide basic financials and up to date reporting for the company in order to have a current reporting status with the SEC and OTC markets. I salute the concerted effort to get fully reporting as well as all of the corp actions involved in expanding the business and getting product development and production rolling but what matters most IMO, especially right now, is reporting, we must have it, now, not later. How long do the auditors need?! Supposedly they have been working on the audit since mid August. I have never heard of an audit lasting more than about two or three months, especially for a micro cap small start up company, this is going on four months now. I realize things are probably out of the CEO's hands at this point, its all up to the auditors, but at the same time, its getting ridiculous; hopefully the company is not paying them by the hour!!
Anyone's thoughts on the matter are welcome....
$RFMK