Just FYI, from the RMHB Stockboys FB site. Within
Post# of 75411
(Total Views: 1119)
Posted On: 04/09/2019 8:57:24 PM
Just FYI, from the RMHB Stockboys FB site. Within the last day or so, some questions were asked related to the R.S and the 10-K to Michael W. I captured the question and responses below and removed names. So it reads better I combined the questions in one listed M.W. responses below that:
Mr. Michael Welch, could you possibly share with us Investors what is the exact reason for the delay of that Reverse Split, and how it relates to the auditing of the 10-K and that being late, thank you.
-- M.W. responses:
o Our auditors have slowed the whole process down. We need to file the 10-K first, which should be done any day now. After that, we can complete the reverse split, once FINRA gives their final approval.
We are totally at the mercy of our CPA firm. Our CFO had the books closed and everything sent to them in plenty of time. As I stated earlier, filing the extension was not because of the Company, but our CPA firm.
o As an SEC registrant, we are required to have an annual audit by a PCAOB registered Accounting firm. As for the Reverse Split, we had the timing all lined up. As soon as the Board approved it, we are required to file a Form 8-K. Timing would have been much better if our CPA firm wasn’t late. We will consider that when deciding what to do about the 2019 audit. Our current firm has relatively low fees, but their service is not up to par lately.
There was this negative type comment made and M. W. also responded:
-- So much for you guys thinking RMHB will announce positive news the date of the R/S. They don't even know when the R/S will be and were planning on sitting on the info until 'fb name' called them out.
Mr. Michael Welch, could you possibly share with us Investors what is the exact reason for the delay of that Reverse Split, and how it relates to the auditing of the 10-K and that being late, thank you.
-- M.W. responses:
o Our auditors have slowed the whole process down. We need to file the 10-K first, which should be done any day now. After that, we can complete the reverse split, once FINRA gives their final approval.
We are totally at the mercy of our CPA firm. Our CFO had the books closed and everything sent to them in plenty of time. As I stated earlier, filing the extension was not because of the Company, but our CPA firm.
o As an SEC registrant, we are required to have an annual audit by a PCAOB registered Accounting firm. As for the Reverse Split, we had the timing all lined up. As soon as the Board approved it, we are required to file a Form 8-K. Timing would have been much better if our CPA firm wasn’t late. We will consider that when deciding what to do about the 2019 audit. Our current firm has relatively low fees, but their service is not up to par lately.
There was this negative type comment made and M. W. also responded:
-- So much for you guys thinking RMHB will announce positive news the date of the R/S. They don't even know when the R/S will be and were planning on sitting on the info until 'fb name' called them out.
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