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Thanks Guys.
From the other board I was referred to:
Apparently, the plan is an EOSP 401K.
This plan allows for the distribution of the dividend.
This plan is "Employee Owned", so therefore, our govt.
set up the law to allow for this in employee owned plans...
As for my strategy of rolling the $$ into another IRA account and trying to get a better dividend rate -- doesn't look like it's possible. I have to stick with the dividend my co. pays out.
Thanks,...At least now I know I can't do it...only appears to be available in ESOP 401K / or similar ESOP plans.
Thanks again
Sorry, Last sentence I meant to say something I can tax DEDUCT, not TAX DEFER. That's what I get for talking so much about tax defer.
As for all the eggs in 1 basket -- my choice -- co also offers mutual funds, etc., but I don't usually buy much of them. I understand GE better, but want to start moving more out.
If you run across anything, let me know...My research has left me thinking that this is a "perk" that is either not offered in the open market, or is VERY hard to find.
Interesting MATH.
Trust me, the benefit is REAL - It's a big co. lots of people take the dividend payout -- no 10% penaltiy...
COMPARISION
Start with $1000
Take the 15% hit now.
U have $850 left.
Now suppose you get 10% return for the next 20 years
Multiply $850 *1.1 (20 times). or 1.1^20th power
Answer IS: $5718.37.
Now: Suppose you:
Start with $1000
You leave it in -- 100%
Now suppose you get 10% return for the next 20 years
Multiply $1000 *1.1 (20 times). (or 1.1^20th power
ANSWER IS: $6727.50
SOUNDS BETTER DOESN'T it BUT, you haven't paid TAXES YET.
Now Pay TAXES
$6727.50 * .72 (28 percent tax bracket).
ANSWER IS: $4843.80 (NOTE: THIS IS LESS THAN $5718.37)
ALSO NOTE: MULT 6727.50 * .85 (15 percent tax bracket).
ANSWER IS: $5718.37
And you thought our govt. was doing you a favor, huh...
I'd rather take the cash and put it in something that I can tax defer...how bout you...
GOCATS
Derf.
I am 36. I work for GE.
If I am invested in 401K (whether tax deferred or not) I can request the quarterly dividend payout of $0.20 per share. I do not receive a penalty on this payout. It is, however, added on as true income. I am currently only in the 15% tax bracket due to other tax decuctions. Therefore, it is a better deal for me to take the dividend payout than to let it grow in the account. I PLAN to retire in a higher tax bracket than I am currently in, and therefore, am better off taking the dividend payout and re-investing in other investements that produce more income, etc.
I am beginning to believe that this may be impossible outside my company (to get the dividend on the tax deferred $), but I am still hopeful that someone knows how to do this...
If you know anyone who works for GE -- Ask them. It is clearly defined and documented in the Benefits Handbook.
Thanks,
GoCats
Help. Looking for someone who knows a lot about dividends.
In my current company 401K, I can choose to have company stock dividend paid out as Cash - this means that I only pay taxes on the dividend, and even though the 401K is tax-deferred money, I do not have to pay the 10% Penalty on the dividend payout.
My company also allows me to roll my 401K over to any qualified IRA. This means I can roll it to Schwab or other similar account.
I want to roll my money to another account, and then invest in stocks which pay out high dividend, and then have the dividend sent to me in the form of a check. I called Schwab and asked them about this, and they said the following: They had to collect the dividend in my account, then I would have to request a payout, and the payout would be hit with the 10% penality -- and also would be taxable at a higher rate than the dividend tax rate.
I am looking for any type of IRA account that I can roll my money into that will pay out the dividend to me without the 10% penality. It is possible for my 401K to pay out the company dividend without the 10% penality, so I am thinking that other plans should be able to do the same. My company only pays out about a 2% dividend. I want the cash flow for other investements such as real estate, LPs, etc.
I am hoping that someone out there knows of a brokerage or financial planner that allows for stock dividends to be sent back to the investor before the 10% penalty.
Thanks in advance,
Need Cash Flow to make more Cash Flow...
Help. Looking for someone who knows a lot about dividends.
In my current company 401K, I can choose to have company stock dividend paid out as Cash - this means that I only pay taxes on the dividend, and even though the 401K is tax-deferred money, I do not have to pay the 10% Penalty on the dividend payout.
My company also allows me to roll my 401K over to any qualified IRA. This means I can roll it to Schwab or other similar account.
I want to roll my money to another account, and then invest in stocks which pay out high dividend, and then have the dividend sent to me in the form of a check. I called Schwab and asked them about this, and they said the following: They had to collect the dividend in my account, then I would have to request a payout, and the payout would be hit with the 10% penality -- and also would be taxable at a higher rate than the dividend tax rate.
I am looking for any type of IRA account that I can roll my money into that will pay out the dividend to me without the 10% penality. It is possible for my 401K to pay out the company dividend without the 10% penality, so I am thinking that other plans should be able to do the same. My company only pays out about a 2% dividend. I want the cash flow for other investements such as real estate, LPs, etc.
I am hoping that someone out there knows of a brokerage or financial planner that allows for stock dividends to be sent back to the investor before the 10% penalty.
Thanks in advance,
Need Cash Flow to make more Cash Flow...
Paul,
To release audited financials "by mistake"....
To authorize another 130,000,000 shares without notice --- I wouldn't be surprised to find out they didn't have the required voting shares to authorize....
Can't name the Auditor?
Comeon - wake up !!
DON'T GIVE THEM THE BENEFIT OF THE DOUBT - THEY DON'T DESERVE IT.
GOOD LUCK
If you like the odds of shooting craps with only even numbered dice on a table that only pays off for odd numbers, by all means, roll away...Just my opinion.
Option 1 - Some may choose.
Option 2 - Tell them what to change - they issue a PR saying "we're going to do just what our shareowners recommend..., in the best interest of our patient shareowners..." and they actually do the exact opposite ---
Option 3 - File with SEC and wait, and wait, and wait. You will get ABSOLUTELY no warning if they do act...Stock will never recover again, unless you like .001% odds....
Option 4 - If you are convinced they are intentionally fraudulent, and I am pretty much getting there...Sue them for fraud...IMMEDIATE GRATIFICATON....still leaves them lots of options...wouldn't necessarily shut them down...would get their attention...make them answer tough questions, etc. Probably could get contengent lawyer were there enough shareowner interest, otherwise, would have to pay lawyer, or ask a friend for a favor...
It's not about the money -- others shouldn't be duped by these jokers...
Someone has to clean up this mess? Any recommendations for a better alternative?
Thanks in advance.
Just my opinion.
Unfortunately, I honestly believe that they have put themselves in a position where they can easily be forced out of business. And I'm not talking about the SEC.Just taking a poll here...
Who honestly believes that there is enough evidence to support fraud in a Civil Lawsuit.
I for one believe this is the case.
Any other takers.
Now maybe if Matin, or others stepped down, this might not be necessary. Otherwise, I believe this is the quickest way to either shut down or clean house...you couldn't predict the outcome, as you can not predict the outcome should (if) the SEC gets involved.
Good luck to all -- we're going to need it, as we are currently being mislead and abused by this company...
Paul,
Time will tell...
Hopefully, they are not as DUMB as they appear to be right now...
The only thing they've got going for them is that a lot of people (including myself) have believed that "nobody is that dumb". They've already built a rock solid case against themselves should they prove to be a scam....There's ABSOLUTELY NO ESCAPE.
LOTS of people will go down HARD...
I wouldn't want to be even remotely near the inside --- wouldn't even want to personally know insiders, should they turn out to be a fraud....
We live in an electronic age where it is impossible to hide all the evidence....
Hope for their sake that they can provide some proof otherwise here shortly....hope all is just a rumor....They are running out of time....
Hope they CLEAN UP THEIR ACT
They have GOT TO REALIZE THIS, DON'T THEY????????????
GOOD LUCK TO ALL
If recent rumors of issuance of more shares and reverse split are true, then someone should make the company aware that this would be bad.
This company is treading on thin ice.
As a shareowner, I still have an interest in NOT SHUTTING this company down.
If they continue to demonstrate a pattern of planned deception, I for one will be willing to help shut them down.
Their latest "mistake" PR is almost enough evidence alone, not to mention the many other "mistake" PR's....
If they are a fraud, it would be the right thing to do...
Where do I start???
Any estimates on how long before the trucks start earning money?
Maybe the share selling will stop at that point?
I was hoping that the share selling had stopped, or dropped off.
I was hoping that they wouldn't dilute the full 70,000,000.
Any thoughts.
Thank You Management
Now that's a PR. (Actually has a 3rd party you can verify).
Call them up, they can confirm they sold trailers....pretty simple...
Great News. I Predict your stock price will go up accordingly.
Thanks for the post.
For what it's worth...IMO...he is perfectly reasonable in his evaluation. Based on the info. from the company, price of .35 (based on 45MM shares) is only a PE of 12. (Based on the fact he's being told VLVT had over 1MM in earnings for 9Months 2002).
PE of 12 is pretty low for a company gowing at 20% or greater.
Price of .35 is easily justified based on all the info. supplied by company at the time --- over 10MM assets included. I think he could have gone even higher...and been justified.
In about 34 days, we'll know how accurate the numbers are. If they turn out to be accurate, this stock will attract more buyers...and price will go up...
Found this on the internet.
Listed in Comilla, Bangladesh phone directory.
Thought maybe one of you guys might want to give it a try.
They probably speak english, Bangledesh is near India, and most Indians are fluent in English.
You would have to account for the time difference. Right now, or in a few hours might be a good time to call.
VELVET TEXTILE MILLS LTD
PHONE: 955-4568
ADDRESS: BAITUL HOSSAIN BUILDING
RM # 705
27 DILKUSHA C/A
DHAKA, BANGLADESH
FROM US:
DIAL 00 880 81 955 4568
00 IS FOR INTERNATIONAL CALL
880 IS FOR COUNTRY CODE
81 IS THE AREA CODE
955-4568 IS THE LOCAL NUMBER.
THIS IS ASSUMING I GOT EVERYTHING RIGHT.
I SEARCHED INTERNET FOR BANGLADESH YELLOW PAGES, AND GOT LOCAL #
I SEARCHED INTERNET FOR BANGLADESH AREA CODES, AND GOT COUNTRY CODE AND AREA CODE FOR COMILLA BANGLADESH.
I AM ASSUMING THE PHONE IS IN COMILLA, NOTE THE ADDRESS LISTS DHAKA.
IF NOTHING ESLE WORKS, WRITE THEM A LETTER. (OLD FASHION FORM OF COMMUNICATION).
THEY DID NOT LIST A FAX #, OR ANY OTHER WAY TO CONTACT.
HOPE THIS HELPS SOME (LIKE ME) GET TO THE BOTTOM OF THIS MISTERY.
CATFAN
does today's events make anyone feel any better.
(I was thinking about possibly buying a little more next week,
possibly not)?
Thanks,
GoCats
Hypothetically -
There are no more preferred shares, all shares are issued, so.....
If an individual or investment club / partnership, were able to amass over 35,000,000 shares, wouldn't they be able to take over ownership of this company?
at today's close, this would be $731500.00
At current rate of stock price descent (about 28% over last 2 days)
This gives following pricing in 2 day increments
2 days, .015 cost to take control = 525K
4 days, .0109 cost to take control = 381.5K
6 days, .0078 cost to take control = 273K
8 days, .0056 cost to take control = 196K
10 days, .0041 cost to take control = 143.5K
12 days, .00293 cost to take control = 103K
14 days, .00211 cost to take control = 74K
16 days, .00152 cost to take control = 53.2K
18 days, .00110 cost to take control = 38.5K
20 days, .00079 cost to take control = 27.7K
22 days, .00057 cost to take control = 20K
24 days, .00041 cost to take control = 14.4K
26 days, .00030 cost to take control = 10.5K
28 days, .00021 cost to take control = 7.4K
30 days, .00015 cost to take control = 5.25K
Prediction: within 30 days, TextileGuru & I will own majority shares in the company, and will take over management of this company.......
Hope you guys get the humor.....
Hope manangement gets a clue....
CatGuru
Daniello --- thanks for the pick me up...
Hope they pull off the audit before too much longer...
Hope we all have some good fortune over the next few months...
Anything Positive would be helpful now.
Anybody got anything?
I am very worried about this stock.
Some of you guys seem to be a lot more confident than I am.
Anybody know how the LA CAP move went, how GOVACATIONS is doing, how Bangledesh Plant is doing? Everything has been about TRUCKS lately, and they shouldn't be taking up the WHOLE conversation.
Nightstocker,
Wolf, Wolf.
Glad you saw some humor in my post.
I'm Upset about the 20,000,000 shares....nothing else even remotely bothers me compared to that whopper.
I'll probably stick around to the end of the month, but make no guarantee.
I am beginning to appreciate TG. A few more PR's like today's and I'll be drinking, a few more and I'll be using drugs, a few more and I'll be posting from the insane asylum.....I think my spelling is alredy staring too bee effectdd....
Tater,
Catguru
Chichi,
Stock just went from HIGHLY SPECULATIVE. to INSANELY HIGHLY SPECULATIVE. (in my opinion).
Question I have. Why did they pay for OTC Live. There isn't a broker / investor out there who is going to buy any shares of this stock! They have pretty much gone into wacko, not a clue, Dumb & Dumber, Beavus & Butthead, "Hello McFly" Management Land. Can you sue for incompetence?
I own shares.
I'll be surprised if my shares are worth over .01 in a few weeks.
I am not a PAID Pumper.
Anybody know how to short this stock? I don't think it's possible, but right now, seems like a SURE THING.
Good Luck to all you longs out there. I AM NOW EXTREMELY SKEPTICAL.
FA,
From what I can gather your point about unfulfilled promises (in the past) are VERY true concerning this company...but that doesn't add up to criminal....without any hard evidence, that could be mismanagement or bad luck.
TG says CRIMINAL, but has never shown any evidence of criminal past.
Why doesn't VLVT prosecute? Why hasn't SEC investigated? SEC doesn't move THAT slow. If anyone had submitted credible evidence, then SEC would have investigated. There are also CIVIL courts in this country to handle stuff like this.
There is a theory that Matin "hids his money" so that you can't get him. Well, believe me, even if he hid his money, if someone had tried to get him through CIVIL or SEC, and that someone had any evidence at all, he wouldn't still be running VLVT -- that's usually how it works.
Also, If he is running a scam this time, he's taking an awful big chance -- he has exposed himself way to much. This is a MUCH different environment that 3-4 yrs. ago. He will not slip away so easily....Anyone who has followed the US papers the last 2yrs. knows this.
I don't have a clue why they haven't tried to deal with TG. If you go to any other site (just about) on Raging Bull, you will find similar TG's out there. Go to GE sometime on Yahoo or RB. There are LOTS of people on the site who believe that GE is responsible for LOTS of NASTY things which are blatently NOT true. Things that are so unbelievable, I won't dignify them with a response. These things are MUCH worse than what TG says. Now GE has Gazillions of Dollars, and Gazillions of Lawyers, but you never hear of GE suing any of these wacko's.
My guess is that it is either viewed as not being worthwhile, or that freedom of speech in this country allows you a LOT of latitude. I'm not a lawyer. I can't even figure out why RB hasn't tossed TG. Him and/or others have clearly violated their policy -- using scare tactics such as an SEC suit coming today...whiich never comes....or SEC has halted trading...when nobody trades the stock for a few hours.....
As for taxes, That is a little more difficult to explain away....This company has many names, operates out of many locations. I do not even begin to know how to search for tax records for a company. This company should have paid taxes somewhere. It's a BIG world to search. YES IT WOULD BE VERY NICE TO KNOW FOR CERTAIN THAT THEY HAD PAID TAXES. IF THIS KIND OF INFORMATION WERE AVAILABLE, THIS WOULDN'T BE A .03 STOCK EITHER.
As for worth 11M 5 yrs. ago, made lots of money and still only worth 11M today? That really doesn't bother me that much. That is true of a lot of companies. Without being able to read a balance sheet going back all 5 years, hard to say. They could have had a lot of debt they paid off, they could have paid their management very nicely, they could have depreciated their equipment...to many reasons to list.
One other thing that bugs me is Mr. Matin's MBA. You failed to mention this also...OTC says he stands by this degree....I guess we'll probably never get to the bottom of that one....
Now for the harder questions.....Are all his co-conspirators also crooks? They are all good business people who should know better. and should know of the consequences....they would have to know IF THEY ARE NOT ACTIVELY PERSUING AUDITED FINANCIALS...IF THEY ONLY KNOW THAT, then they are liable should it turn out to be a scam....hardly worth the jail time, and loss of assetts to be scamming for pennies...Hard to not know whether or not the company is actively persuing an audit....Point being, the audit can still not come through, the audit can come through with bad numbers, but they better at least be attempting an audit, otherwise it's fraud, and all involved know that they stand a good chance of being prosecuted.......
Also, what are these scammers going to do with all these trucks they are buying...sources in MEMPHIS see them with trucks??
I guess we'll all know for CERTAIN in about 3-4 more weeks (or less). I agree with your thoughts of being SKEPTICAL for the time being, but still lack enough evidence either way to know anything for certain..
Any thoughts on the HUGE volume we saw this week? It didn't change the stock price, but there sure was a lot of volume....
Free Advise,
Why are you so smitten by TextileGuru?
If he could spell, if he made sense, if he ever offered any evidence to his claims, I might see why you listen to him. I have seen no evidence of anything. I AM POSITIVE he feels very strongly about Mr. Matin, and I am positive that he feels he has been wronged by Mr. Matin --- although he has never shared how Mr. Matin wronged him....I am guessing that he was not born in US - thus the spelling and grammar mistakes...He has never offered any proof of any substantial allegations......HE HAS SAID MANY TIMES THAT THE PROOF IS COMING....UNFORTUNATELY FOR TG's CREDIBILITY, IT NEVER CAME........
I'm personally mostly still on the fence about this stock....But am of the belief that if there was any CREDIBLE evidence of their claims against Mr. Matin, then TextileGuru and others would have posted it MANY, MANY times.....
If you find something Credible, I for one would appreciate you posting it....."TextileGuru's says this, says that" holds no water any more....must back it up with verifyable facts......Also something new, that we haven't already discussed.....
Thanks in advance...
CATFAN
Could someone please check issued shares (as of today)
and post amount on board.
Thanks,
catfan
Nightstocker reminded me...
IF WE ARE FULLY OUTSTANDING, IF THERE are no NEW SURPRISES, I stand by my Post 783...I think IF financials are as good as projected, then there are absolutely NO fundamentals I can think of that should hold this stock back...may have to wait for SEC filing to go through, but IF audited financials are as good as projected, I won't mind buying more stock if the prices stay down at these levels.
I too would like to know any other optimistic projections for Price based on unaudited financials....Think of it as something to do as we wait, and wait, and wait.....
I think a lot of us have already expressed our views of management and relations firm....if they haven't gotten the message yet, it may be a while before they do....
Some of this seems pretty basic stuff, I can't for the life of me figure out why they don't seem to care.....
As far as #1 goes, I'm in for .26 (just accounting for MM & Veltex) should LA Cap and GOVAC come in as projected then I'm in for about .50...(May take until SEC filing to get there).
As for Mr. Matin --- If he delivers on the audited financials from a reputable accounting firm, I would probably be inclined to "cut him a little slack" for a while...and if you've read any of my posts in the past, you will know that I am not in favor of how management has handled their responsibilities to the shareholder....however, I will go on record as declaring an international "no negative posts day/week/month" for Mr. Matin....If he delivers the good audits!!
Anybody got the ASK/BID for today.
Very Low Volume.....hmmmmmmmnnnnn......
Either nobody's interested, or..........
just wanted to see if an 100 share trades changed the price today???
Thanks,
You are correct. The correct term is Cap.
They still have mismanaged their investment pool of $$ (in my opinion). They COULD come out with great audited financials, and with detailed explanation of their growth strategy, and why it was necessary to sell all the shares, and that they "got a good deal" by trading the shares for great opportunities,....however, with the evidence thus presented to me, I can not yet come to this conclusion......without more info, which would lead to more confidence in management, I doubt this stock will get much higher than it's current trading levels, and I am actually afraid it will go lower....The problem is that they have had ample time and opportunity to divulge information such as this....divulging the info. would have most likely increased the demand for their stock, increasing the value of their stock, and increased their Cap. for investing in more trucks, more acquisitions, etc.
Just stating the obvious, in my opinion.
Sorry, got to disagree.
Stockholders DO BRING REVENUE to the company.
Roughly 25,000,000 shares issued in last 6 months.
25,000,000 * .03 = $750,000 in revenue.
if you use .04 (as the avg. price), then it'S $1,000,000.
This is close to the earnings company is stating for all of last yr!!!
What concerns me is that I veiw this as poor management of ASSETS.
these shares that have already been used have intrinsic VALUE. If their published statements on the finances are correct, then they practically GAVE the shares away --- this is GOOD for me because I bought some of those shares, but I DO NOT UNDERSTAND why so low??
If they had chosen to release audited financials BEFORE they issued the shares, they might have gotten .10 to .30 for shares. They might have gotten $10,000,000 for their efforts --- this would have allowed them to buy a whole lot more trucks.
As a shareOWNDER (Empahsis on OWNDER) of this company, I view this a poor management. I do not know the details of any of their other financial transactions -- they may or may not be very astute in their other transactions, but it causes me doubt.
The biggest reason why most companies fail is POOR MANAGEMENT.
Without MORE confidence in the management, I can NOT justify increasing my position in this company. I suspect that this is true of most investors. Audited Financials will certainly (if good) increase my confidence in the management.
I think that most of the big money will continue to stay out until there is better proof of finanacials AND management.
I DO NOT THINK THEY SHOULD AUTHORIZE MORE SHARES TO BE ISSUED -- THAT WOULD MAKE ME THINK VERY SERIOUSLY ABOUT SELLING MY SHARES
I DO THINK THAT ONCE ALL THESE COMPANY ISSUED SHARES ARE ABSORBED BY THE MARKET THAT THE PRICE SHOULD START MOVING UP AGAIN.
You may disagree with some things I said, but that's my honest opinion.
I haven't been to Walmart or JC Penny since the OTC Live Presentation. I plan to get over to at least Walmart before too long, but not going to make a special trip just to look thru clothing...I guess I'm getting more comfortable with the uncertainty of this stock...
I would suggest, that if you go there, or try calling either of these, that you ask about LA CAP as well as other company names. My guess is that LA CAP is more POLITICALLY CORRECT. I doubt that Walmart or JC Penny would like to divulge that they are buying clothing from Bangledesh. They typically like to advertise their American Made products and downplay the overseas products. Look for good quality clothing that is sold VERY cheap...this is what VELTEX claims to distribute. Report back if you find anything out.
Thanks,
I guess this board has died???
I thought the presentation was probably exactly as expected -- not much meat, Duff didn't show up, so they didn't have a presenter.
Glad to hear an analyst or two ask a question or two we had been asking --- Which were ACTUALLY answered.
Don't know if it excited me enought to buy more, but it didn't convince me to sell either.
Don't think these guys will ever be very "slick". Hope they can just keep growing their revenues and get listed.
Don't know if any of the analysts / investors will take a plunge with VLVT before they publish the audited results -- kinda doubt it. Most will probably even wait until AFTER the filing with the SEC is complete, and they change to another board. This may mean a long wait for us, but we should feel a lot more comfortable with the wait once we know the Audtied financials are complete.
Any thoughts out there??????????????
Does anybody know how things went today??
VLVT won't get this shareholder's permission to issue more shares!!! I AM CONVINCED THAT THIS IS THE MAIN REASON WHY STOCK HASN'T MOVED!!! Just 2 Million more and they can't issue any more without our permission. NICE TO KNOW THEY ARE KEEPING THE SHARE ISSUING TO A MINIMUM -- THEIR WORDS, NOT MINE!!!
You da man...Good Work...
Hope your right, but VLVT is the ones selling shares at .04 which are worth 10X that amount if the company is LEGIT, and I could never sell .04 when I know it's worth .40.....JMHO.
The waiting must continue...Thinking about just quiting following this stock for a few weeks and then see what happens...
Thanks for your opinion....I have never invested in a .04 stock, and am way out of my league...but this is fun...stock actually could easily go to .40. when you buy a $40 stock, you never even consider it going to $400...(so at least that part is fun)...Not looking to sell, haven't bought more than I can lose...Just don't understand the management's mindset...quite a far cry from typical fortune 500 mindset of stock price, stock price, stock price, spin, spin, spin,...
Have fun...
I think your right on with calling...
Please share with the board your thoughts after you have made some calls.
Thanks,
Question for the board.
If we are to expect AUDITED financials by the end of the Quarter, shouldn't we have seen a press release by now stating who the AUDITING FIRM is??????
I don't think you can perform an AUDIT of a company with primary business in Bangledesh, Canada, Memphis, etc. to be done in just 2 months...Or can you...Again, this company isn't doing anything to help themselves with appreciating shareholder value...
I don't know of any reason why you wouldn't publish this info. once the terms have been agreed. Other compainies when performing similar audits usually brag repeatedly about the audit and the AUDITING FIRM...(usually)...It is also customary to try to find an older established firm to do the audit (when credibility is an issue)....
This type of press release would give opportunity for some DD...
Note: I wouldn't be expecting the Auditing Firm to disclose any info. just that they have been employeed to perform an audit...I am pretty sure this is done all the time...
Just some thoughts for the board.
Forgot to mention, my order at .041 wasn't filled either.