Bayport International Holdings Inc. (BAYP)

[DragonBear]

Everyone knows that there are 100's of

OTC SEC filers that are months to years late in their filings. Most file 10K late filing notices...In this company there is no such requirements yet. So, to get the initial audit could take this amount of time.

That's a new one. Start with: Other unregistered microcap scams don't file with the OTC for years. Therefore that's why it's taking years to prepare an audit, and submit a Form 10 promised in Q4 2013. Taking this strange linkage even further: Since more than a few OTC scams never report again, then it may take forever for BAYP to submit a Form 10 with 2 yrs of audits. The ultimate PASS being handed out to BAYP management.

Energy companies require more than balance sheets to be reviewed and audited. There are many more forms, documents and reports to be reviewed.

No they don't fill out more forms that an auditor would be interested in, outside of reserves claimed. Neither does BAYP have much of anything to fill out. They claim no reserves. Just dribbles of NRI here and there. Not complicated. Back in Oct 2013 BAYP reported for a 45 day period:

Texas and Mississippi wells: $740 (Does not include Gaines County Interest)

Let me guess an auditor is going to become dizzy, and disorientated for 18 months+ looking at such a complex number??? LOL