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Re: None

Thursday, 10/30/2014 7:45:56 PM

Thursday, October 30, 2014 7:45:56 PM

Post# of 370245
d). Audit Status Update with Hogan-Taylor – As previously disclosed, the Company has engaged Eduardo Suarez-Moreno, CPA as in-house Controller. During the past six weeks, Moreno has been reviewing and compiling all information required for a complete audit-package to be presented to Hogan-Taylor. A meeting has been scheduled for Monday, April 25, 2011 with Todd Wisdom of Hogan-Taylor, along with Moreno, Parkinson and Shefte, to formally present all of the reports, materials and back-up items previously requested and customarily required for Hogan-Taylor to conduct a full audit of the Company’s activities for the years 2009 and 2010. The format of the reports being delivered to Hogan-Taylor is anticipated to expedite the formal audit process and to reduce the timeframe required by Hogan-Taylor. At the meeting, Company will ask Mr. Wisdom to advise on the necessity, cost and value of also auditing the year 2008 results, or more simply, reviewing same.
Dated: 19 April 2011

HOGAN TAYLOR AUDIT STATUS – Fred Shefte, Eric Parkinson, and in-house controller / CPA Eduardo Suarez-Moreno had a lengthy meeting with Hogan Taylor on April 25 to review the documents and files and discuss the timeline and procedures for the audit of activities covering the calendar years ending 12-31-2009 and 12-31-2010. A list of back-up materials was provided at this meeting, and these additional items are being assembled for Hogan Taylor, with the expectation of delivery to them by Friday, June 3rd. It is possible that the actual “audit” by Hogan Taylor may not be a lengthy, time-consuming process due to the extensive detail and organization of the materials prepared by HH / TDGI for Hogan Taylor. However, Company cannot yet predict a date for completion and filing of the audit until after all requested materials have been delivered to Hogan Taylor.
Dated: 31 May 2011

(4) Company has engaged HoganTaylor, LLP, to conduct a full audit of the combined entities for the 12-months ending 12-31-2010, and a full audit of the Target Development Group, Inc. activities for the 12-months ending 12-31-2009. Materials, reports and back-up documents provided to HoganTaylor have been assembled by Company Management, including the company?s in-house Controller, Eduardo Suarez-Moreno, and Company principals Fred Shefte and Eric Parkinson. HoganTaylor, LLP is licensed in Arkansas and Oklahoma, with a large staff of CPAs and auditing / reporting professionals experienced in public company auditing and financial reporting obligations.
EDUARDO SUAREZ-MORENO – CONTROLLER – Eduardo has a BS in Accounting from La Salle University and has been a licensed CPA since 1983. He was Financial Comptroller of Virgin Entertainment & Television (Latin America) and has extensive experience in the specialized considerations of entertainment accounting, as well as general bookkeeping, tax preparation and pre-audit reviews.
Dated: 5 August 2011