Amarantus Bioscience Holdings Inc (AMBS)

[Riskreturn168]

The late filing is most likely due to the discrepancies between the ACCOUNTING STANDARDS used by Mark Faerber and the old Accounting Firm versus the new National Accounting Firm and new CFO. Here is an important accounting definition:

"GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) refer to the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards or standard accounting practice. These include the standards, conventions, and rules that accountants follow in recording and summarizing and in the preparation of financial statements."

Remember, just 6 months ago Gerald and Mark Faerber were basically a two man shop! The accounting standards and methods applied by Faerber may not have been up to the standards of this new top flight National Accounting Firm, and the new CFO. Gerald's explanation that the late filing was due to their having a new CFO is entirely plausible. In fact, that there should be discrepancies in accounting standards is not unusual. This is the reason the NASDAQ has certain requirements for small companies who wish to up list because small companies often have these kind of problems with their books. (That doesn't mean criminal) This is the very reason Gerald was probably advised to switch to a bigger more prominent Accounting Firm so they would raise the quality of book keeping being done for Amarantus. While this is embarrassing in the short term, it is not all that unusual, and certainly not fatal.

Sloppy science regarding MANF would be fatal. But we have two independent researchers: Dr. Urano and now Mart Saarma who have validated MANF's unparalleled capacity to treat Diabetes!! If these two researchers had contradicted John Commissiong's brilliant claims regarding MANF...now that would have been serious. But quite the opposite is the case...MANF is a BREAKTHROUGH DRUG IN SEVERAL INDICATIONS!!

Lincoln Park and MJFF would be stupid to back out on us now because our accounting standards were a bit sloppy, right before we unleash all our catalysts. Smart business people know this embarrassing late filing is only going to make the Executive Team at Amarantus better in the future - and on par with their brilliant science that is about to be introduced to the world.

You all didn't expect to become millionaires without a few sleepless nights did you? Growing pains, that's all folks.