The facts are what they are. Auditors won't withh
Post# of 22454
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The facts are what they are. Auditors won't withhold an opinion over share count so long as the situation is accurately described. At most, they might add a sentence about the need to increase the A/S to the "going concern" paragraph.
It is my understanding that L2 Capital suit caused a situation where the share structure could not be accurately described. One side claiming X amount of shares were owed the other claiming Y amount of shares were owed..
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In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of [date], and the results of its operations and its cash flows for the fiscal year ended [date], in conformity with accounting principles generally accepted in the United States of America.
If the amount of shares owed to L2 Capital if any were not known an auditor could not present fairly, in all material respects, the financial position of the Company as of [date], could they?
The shareholder vote to raise the AS indicated to me another reason that share structure might have been the reason Squires was unable to file.
JMHO!