Thanks for sharing Bennie. It is good to hear that the CEO is confident that the filing of the audited 10K with the SEC will happen eventually, but the question is when?! I don't think we can glean any information about timing from his words there; as in, it does not "seem" like his words indicate any details on the timing of a future filing, could be in hours, days, weeks, months, years, etc. It is true that shareholders have been waiting for this auditing and accounting firm to complete the job since mid August 2012 and it is now Jan 2013. As a loyal backer of this company, at this point, I would like to know from the CEO if he estimates if the auditors are "weeks, not months" away from finishing the task. Why is it taking the auditors so long to accomplish a simple financial audit on a micro cap company with very few assets and liabilities? This process IMO should have taken at most six weeks or maybe a couple of months maximum. We are all reasonable adults and we can understand typical delays, a few weeks, even an extra month, but this is going on month after month after...
At this point, personally I am just more intrigued and curious to know why it has taken so long and what is or was the hold up rather than being frustrated with the delays. I really would just like to know at some point what held up this whole process. Sure accounting and auditing tasks are tedious, but the positive side to that is that tedious tasks tend to be small and easy to accomplish. Granted the reporting period is long and so there probably was a great many small tedious tasks to audit and verify it all but I have known many companies who have decided to get audited and most take between a week and a couple weeks to complete the audit. The longest audit I have ever heard of prior to watching paint dry with this RFMK fiasco was just under two months. Of course, the duration of an audit varies largely from company to company. One good aspect to the lengthy audit is that the firm must be doing a very very thorough job and so at least all concerned can know that once the audit is complete, RFMK will have been inspected at a very detailed level which is better than some quick and sloppy audit job from another firm. At this point, now the auditors continuing to audit and it being 2013, as a shareholder I would even rather the CEO allow them to work on it a bit longer if it would mean they could also include December 2012 so that the reporting period could go all the way to year end. Hopefully "soon" we shareholders will be allowed to get shareholder value via full transparency and an uplisting. I guess time will tell.
Do or do not, there is no try.
$RFMK
