this is a post from drken on the other board.
CEO Ronnie Adams contacted drKen at 6PM …
this evening (Monday, 7/29) to relate the following facts. I’ll list them and then discuss them.
First, the important dates:
1) The 10-K for Fiscal June 30, 2011 will be posted on or before Wednesday (8/07).
2) The 10-K for Fiscal June 30, 2012 will be posted on or before Wednesday (8/14).
3) The related 10-Q/A Quarterly Financials will be available in the same time frame.
4) The 10-K for Fiscal June 30, 2013 status is unknown at this time, but will likely be posted within a month after the 2012 report. When Ronnie Adams knows the date, we will too.
5) MDHI will remain current and timely with future Quarterly and Annual financial reports.
Now for the Investor’s Half Empty / Half Full discussion:
After publishing the Fiscals for 2008, 2009, and 2010, MDHI management resorted to survival mode. At that time, the management clarified their position of using available funds for company operations vs. SEC reporting. As a much lower-cost alternative, the management published frequent SEC 8-K Company Events as major advances needed communication .
We’ve waited for 3 years for any financial reports related to Fiscal 2011, including the quarterlies. I’m not expecting anything dramatic or enlightening, like profit, but the financials should substantiate the 8-K’s. Regardless, the SEC must receive these Fiscal reports in chronological order. The data for Fiscal 2011 were extremely difficult to accumulate and audit. But, as many of you have guessed, doing the hardest report first helped gather the data for the 2012 report and the related quarterlies. That’s why the 2012 report and most of the Quarterlies will be posted the following week. The 2012 should shed some light on the major distributor results.
From 8-K’s, Fiscal 2013 was used to extend the manufacturing, sales, and distribution, as well as decrease debt, and cross a profitability threshold. Apparently, these efforts helped the PHOENIX rise from the dust. This will be the most exciting report.
I CAN WAIT !!! Our financial future is tied to our mutual success. You can HELP, you can HURT.
