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It looks like more than 2-3 months.
Nope. Nobody certified that 2 juniors performed the field work for the audit, haha. Only proof we have is the email comments from Ryan , who I believe is the AMFE accountant and/or IT person.
He stated:"With RBSM they initially looked at the company as a pink sheet with no filing deadline for the audit and assigned 2 juniors to the audit versus what probably should have been a team of 6 especially when you consider the complexity of our file having multiple subsidiaries operating in CDN dollars with complex purchase accounting and innovative capital raises that was done to protect shareholders from heavy dilution like traditional pink sheets are known for".
You can view the entire email on post #134184
of 134196 at the time the post was written.
Not necessarily. When the 2 Junior Auditors showed up , AMFE Mgmt should have been on the phone immediately to the Audit Partner or their Audit Firm
contact suggesting/demanding more experienced auditors with at least one in-charge Senior auditor. In fact audit staff level should have been discussed before to agreeing to the audit by AMFE Mgmt.
As did my Penguins..... from ELS. However, I now will support the Knights and Flower.....
Because the Knights have a 3 time Stanley Cup goalie from the Penguins..... Flower called me the other day asking me if I heard that AMFE was having a three year audit performed. I told him Oui it's voluntary but mandatory to uplist to higher OTC Exchanges. He replied ,Oui,Oui......
I did not realize this comment was sent. I must have hit the submit button in error & did not finish last sentence, ignore last sentence.
Yep. The audit by itself independently verifies the financial data reported by the company and is the catalyst to enable AMFE to uplist to a higher market and attract another level of investors.Of course the audit by itself will only bring in a limiy=ted # of new investord but as I said it is r=the
Maybe you're right.
I agree after how many disappointing tweets in the past 4-5 months. Why doesn't he post the auditors email I wonder.
Roger previously posted, that he & RBSM have a conference call updating the audit every Friday. I agree this is very unusual and there is no apparent open dialogue between accountant and client. Rookie mistake, imo. I would like to see an Audit update earlier than Friday but I doubt we will have one. I'd love to wrong though.
Been holding my breath since November , 2017.........
Sorry for your loss Aggie. You did the right thing & I applaud how you sold your shares. Thanks.
Hi David 2011. Didn't you say you had 17 years experience with Deloitte, one of the Big 4 Accounting Firms in the world. Gave you a follow for your thoughtful comments on this board. Keep it up. There is nothing wrong with AMFE , however, it is evident this is Roger's first "Audit" Rodeo & the Accounting Department's , if there is one.
Don't know . I remember reading that AMFE Mgmt & RBSM only talk on Friday's.
I received your PM," mcdaib". Occasionally I get tired of listening to some of these BS'ers. I hope these adjustments are made over the weekend and the audit report is issued early next week, like on MONDAY!
Maybe for you but for the other 99.5% on the board Roger has 100% credibility & is making money for us hand over fist. Adios Sportsdude!
Make those adjustments over the weekend and be done with it already!
Cute...............LOL. That was funny.
Sorry Lopus but I cannot make that kind of assessment from afar, especially on a public forum. I'm not privy to AMFE financial information and RBSM timeline. In fact I don't know exactly when the audit started. I don't have PM privileges but if you do, send me a PM with your email address & we can chat abt the audit.
Through April 15 is the busy season for all Accounting Firms. I'm sure that RBSM is working 10 hour days if not more including weekends. See David2011's posts for further information regarding Accounting Firms work ethics and client relationships.
BTW re your comment:"Cushion..... My interpretation of the tweet from two weeks ago was that the cushion was on the front end of the April 6 estimation.",that was my interpretation also.
Like your hobbies De302,Craft beer tasting and napping. I'd add to that the Diamond in the Pinkie rough, AMFE as a great hobby. Regarding napping: it used to be while watching TV I'd catch myself falling asleep, now I catch myself waking up! . BTW, I gave you a follow
As a Deloitte alumni. he does sound very intelligent,doesn't he ,haha . The Big 4 Accounting Firms all have offices in Toronto. Roger ,IMO, should at least talk with them and have each prepare a proposal for the audit work at AMFE going forward.
I couldn't agree more with your comments David2011. I worked for Deloitte many, many years ago. The client has a tremendous amount of clout over the accounting firm especially after a missed deadline or two and must be more demanding of the audit firm to meet their needs. A deadline is more than merely a suggestion....... RBSM is doing little to nothing to please AMFE and should be replaced after the completion of this audit. The company is going intentional now with locations in the USA, a proposed acquisition in France etc...,therefore, after this audit is complete consideration should be given to hiring an International Accounting Firm such as Deloitte. They may be more expensive but are better staffed to provide international coverage.
I too like Roger ,however, as has been said many times this may be his first audit and has been a learning experience. BTW, I gave you a follow. Thanks for your comments./Rg
Thought you predicted $1.00 by Christmas, 2017
That was my interpretation of his tweet also. April 6th was with a few cushion days included. Sure would be nice to see the audit and update this week. Can't wait!
Fake news! Roger doesn't wear shoes with shoe laces even in the winter.
Lopus. Guess we hit too close to home.........
LOL, hahaha
At this stage of the game Mary, it is the only option for SB to do to reestablish credibility with the shareholders. He must be careful to only announce 100% done deals.
No need to pay any attention to those who do not feel that the announcements of the last week are huge. As u said, "This is a BIG STEP FORWARD for AMFE." I am very excited about your involvement in the growth of S&L in the SW, USA and I appreciate you contributing to the success of S&L and AMFE for all stockholders. I believe these new locations will have tremendous impact on S&L and AMFE's bottom line in time. I too am disappointed that the stock has not moved today but as you say it will, big time. We can't predict when that will be, but it will happen.
Received your PM last night. Cheers jrf/Rg
No need to be jealous. U can be there there one day too.
I'm planning on being North of LA in Nov, Dec, until Jan 15th and will make a trip over to Phoenix to visit your store. Congratulations JRF30!
It looks pretty big.
Googling Buffalo, there are 11 Colleges and Universities in the Buffalo area,
LOL. Be careful. There are a lot of sensitive posters on this board , haha
You and me both, Dog.....
I agree this is ridiculous. Even the patient are becoming impatient.
3/16/17 was my first purchase of AMFE. I have not sold a share. Added until 8/17 & reached my predetermined goal of # of shares I wanted to own in AMFE thinking the audit would be completed and issued within 2-3 months after 8/17.
I was hoping you were right Russ. I'd like free additional AMFE shares.