That's not exactly how it works, John. The SEC doe
Post# of 40991
(Total Views: 757)
Posted On: 04/18/2019 4:31:39 AM
That's not exactly how it works, John. The SEC doesn't require filing such info, but the company could elect to file an 8K to disclose the contract. But there's nothing stopping a Pink alternative reporting, non-audited filer from filing a disclosure on OTC Markets - it's done all of the time, and ONCI has made certain special disclosures. (personally, I don't believe filing these contracts is necessary or advisable for the company - plenty of other things to do to build shareholder confidence)
This is exactly the kind of issue an auditor would sort out for us. For example, I loaned money to a company recently and I received the repayment with interest, as agreed. While the company was preparing its annual report, the auditor sent a letter to me asking for confirmation that there was indeed a loan, that I received the payment, and that there was no balance outstanding - presumably to match what the company had showed in its books. They will do the same thing with anything of importance in the ledger, including sales that are "booked" with any significant accounts receivable. However, as I posted previously, there are many easy and quick options for giving shareholders confidence FAR above where it is today, that do not require an audit.
Before jumping into audited financials and SEC reporting, including a level of CFO/accounting and legal support for the financial reports plus numerous additional filings throughout the year, and adding anywhere from $25K to $50K per month just to do this, a small startup company like ONCI should start with the easy and less costly options - good communication, with clarity, and a level of transparency to present a cohesive, believable and understandable story. This alone is enough to bring ONCI 10x the current market cap. And then we'll be sitting just over a penny, and THAT is the time to be starting to look toward to "when can we see audited fins" that would support a pps price 5x to 10x higher than that, where we can finally appreciate a decent PE ratio.
Like I've said previously, screw the bullsh*t about needing audited fins or needing to be SEC-reporting. Just start with good communication and a level of transparency, and we can see - and hold - 10X better value. And when we've got positive cash flow and can afford to pay for auditing and SEC reporting without toxic debt to fund it... by all means, lets add more value to the stock.
This is exactly the kind of issue an auditor would sort out for us. For example, I loaned money to a company recently and I received the repayment with interest, as agreed. While the company was preparing its annual report, the auditor sent a letter to me asking for confirmation that there was indeed a loan, that I received the payment, and that there was no balance outstanding - presumably to match what the company had showed in its books. They will do the same thing with anything of importance in the ledger, including sales that are "booked" with any significant accounts receivable. However, as I posted previously, there are many easy and quick options for giving shareholders confidence FAR above where it is today, that do not require an audit.
Before jumping into audited financials and SEC reporting, including a level of CFO/accounting and legal support for the financial reports plus numerous additional filings throughout the year, and adding anywhere from $25K to $50K per month just to do this, a small startup company like ONCI should start with the easy and less costly options - good communication, with clarity, and a level of transparency to present a cohesive, believable and understandable story. This alone is enough to bring ONCI 10x the current market cap. And then we'll be sitting just over a penny, and THAT is the time to be starting to look toward to "when can we see audited fins" that would support a pps price 5x to 10x higher than that, where we can finally appreciate a decent PE ratio.
Like I've said previously, screw the bullsh*t about needing audited fins or needing to be SEC-reporting. Just start with good communication and a level of transparency, and we can see - and hold - 10X better value. And when we've got positive cash flow and can afford to pay for auditing and SEC reporting without toxic debt to fund it... by all means, lets add more value to the stock.
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