Are there any assets? Why is the 10K so late?
IF the prior filed reports were correct, the only assets that would need to be verified would be cash in the bank, and a few oil rights, that are probably not worth anything right now with oil prices being down so much.
It should only take a few hours for a CPA firm to verify the assets, and then maybe a week, at most, to prepare the 10K report.
There is no excuse for the 10K report being so late. It is now months late plus there have been no 10Q reports since the missing 10K report.
I am starting to wonder if there is 'something wrong' with all of the reports, maybe going back years, and if there are any assets at all; since a problem of that magnitude would explain why the 10K report is so late. i.e. One of the directors discovered the 'problem', forced out the people that where 'in' on the problem, and now have to restate years worth of reports.
Louis J. Desy Jr.
