Some may be wondering why the delay on the 1st Quarterly Report. The following may give one an idea of what Signal Bay is up against. If anyone has the ability to Tweet, this Auditing firm should be the subject of who not to hire in the event that you need your financial audited.
Subject: Signal Bay Inc. (SGBY): Credibility is the issue and the delay was
By StevenRisk Thursday, 04/06/17 11:23:42 PM
Credibility is the issue and the delay was not caused by SGBY. AS many have stated everything was blamed on SGBY as many investors have turned sour and solely blamed WW. While it may not have been the auditors fault certainly it should have not taken until end of Feb. WW kept pointing the finger at auditors but ultimately he took the heat thus IMO auditors have to go. We now have a seasoned CFO with 15+ years experience. Remember I was complaining heavy back in Nov.when SGBY hired a contracted CFO and the problems it would cause. Still believe the auditor lacks credibility when they can not give the resources needed to get filings out timely. This would be a major concern had I been CEO and heads would roll! IMO, unfortunately WW became the lamb duck. Again, I could be wrong but 2+2=4 and that is how I added everything up.
Also:
Subject: Signal Bay Inc. (SGBY): They are looking for a new auditor and
They are looking for a new auditor and to find one that is credible and will meet their future needs has not been easy. They(SGBY) IMO, virtually got screwed over as the late filings were because the auditors were sending one question at a time for the 10K and even though SGBY answered immediately it took many times another week only to ask yet another question. IMO, SGBY probably got pissed off and possibly are looking for another auditor that can meet their needs. The old auditors got whiff of SGBY being pissed off and have taken their dear old time getting the 10Q done instead working on other 10Ks for the year ending 12/31/16 that were due on 3/31/17. Also probably some shady work from SGBY independent contractor CFO hired in Nov. Either you believe or you don't but anyone who has been following what has been said from DD gathered can easily come to these conclusions. Finding the right auditors is not as easy as one would expect and IMO that is why they originally hired a contract CFO. GLTY and this is only IMO from my DD.
Malone Bailey - SGBY current auditors were involved in a major problem with a company they were working with last year. Malone submitted audits that proved to be fraudulent. The auditor they were working with was a contractor and not a full time employee. Regardless, that auditor ended up with a 3 year plus suspension by the SEC and Malone was hit with a $600,000 plus fine -
Malone wasnt considered perpetrating the fraud - rather they were just maybe rubber stamping audits and at a minimum negligent in their duties.....
This is so true but caused SGBY huge credibility problems thus they want a new auditor who can give them the time needed to get things done timely.
Subject: Signal Bay Inc. (SGBY): Credibility is the issue and the delay was
By StevenRisk Thursday, 04/06/17 11:23:42 PM
Credibility is the issue and the delay was not caused by SGBY. AS many have stated everything was blamed on SGBY as many investors have turned sour and solely blamed WW. While it may not have been the auditors fault certainly it should have not taken until end of Feb. WW kept pointing the finger at auditors but ultimately he took the heat thus IMO auditors have to go. We now have a seasoned CFO with 15+ years experience. Remember I was complaining heavy back in Nov.when SGBY hired a contracted CFO and the problems it would cause. Still believe the auditor lacks credibility when they can not give the resources needed to get filings out timely. This would be a major concern had I been CEO and heads would roll! IMO, unfortunately WW became the lamb duck. Again, I could be wrong but 2+2=4 and that is how I added everything up.
Also:
Subject: Signal Bay Inc. (SGBY): They are looking for a new auditor and
They are looking for a new auditor and to find one that is credible and will meet their future needs has not been easy. They(SGBY) IMO, virtually got screwed over as the late filings were because the auditors were sending one question at a time for the 10K and even though SGBY answered immediately it took many times another week only to ask yet another question. IMO, SGBY probably got pissed off and possibly are looking for another auditor that can meet their needs. The old auditors got whiff of SGBY being pissed off and have taken their dear old time getting the 10Q done instead working on other 10Ks for the year ending 12/31/16 that were due on 3/31/17. Also probably some shady work from SGBY independent contractor CFO hired in Nov. Either you believe or you don't but anyone who has been following what has been said from DD gathered can easily come to these conclusions. Finding the right auditors is not as easy as one would expect and IMO that is why they originally hired a contract CFO. GLTY and this is only IMO from my DD.
Malone Bailey - SGBY current auditors were involved in a major problem with a company they were working with last year. Malone submitted audits that proved to be fraudulent. The auditor they were working with was a contractor and not a full time employee. Regardless, that auditor ended up with a 3 year plus suspension by the SEC and Malone was hit with a $600,000 plus fine -
Malone wasnt considered perpetrating the fraud - rather they were just maybe rubber stamping audits and at a minimum negligent in their duties.....
This is so true but caused SGBY huge credibility problems thus they want a new auditor who can give them the time needed to get things done timely.
