Sure...
I made this post earlier and it appeared to quell the nonsensical notion that there will be an amended 10K that somehow reinstates the millions in revenue that were listed in the 10Qs, but did not survive the audit. I'm repeating it for those who didn't get a chance to read it. Since Martin's word is considered gospel by many, I've included and highlighted his certification.
First of all happy Easter to one and all.
Many longs expect an amended 10K which will materially raise 2013 revenue (to reflect the revenue that they believe that EWSI has already received), or as some have suggested, a amended 10K materially lowering expenses. Neither one will happen. Yes, they may issue an amended 10k, but not one that makes any material changes.
People have been posting quotes from the 10k which they claim states, or at least implies that this amended 10k, adding millions in 2013 revenue, will be forth coming, it will not.
Here are two quotes from the 10K that virtually guarantees that it won't.
Quote:
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of E-Waste Systems, Inc. at December 31, 2013, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America......
/s/ RBSM LLP RBSM LLP
April 15, 2014
New York, NY
1) I have reviewed this year-end report on Form 10-K of E-Waste Systems, Inc.;
(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
Date: April 15, 2014
/s/Martin Nielson By: Martin Nielson
Title: Chief Executive Officer
There's nothing in there about millions in revenue yet be reported, it says they reported everything.
The 10K contain a similar certified statement by Sadler. Financial statements are audited to assure the public that they may be relied upon. If RSMB, Sadler and Marty certified the 10K knowing that there was unrecorded 2013 revenue, all three parties could face criminal charges and/or civil complaints. Certainly the two accounting firms would face disciplinary action.
Up until now Marty can claim that he received bad advice (and perhaps he did), but not if he files an amended 10k claiming millions more in revenue. It's also not very likely that RBSM and Sadler put their companies in jeopardy by certifying an inaccurate 10K.
And no, they can't just move the revenue to 2014, simply put, there were no millions in revenue.
The 2013 revenue was $840K and that's not going to change.
