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I am not claiming to be a professional CPA because spelling actually MATTERS when submitting legal tax documents or creating legal documents. Get over it buddy this is down 75% since then.
True, overall I am up in the market but sometimes it's worth the risk to speculate; however there is not bottom for a stock like this.
You and I both!
All fair criticisms. I am happy I bought back in but this turd needs to retire some shares and reduce these non operation costs.
The truth is I just read all of that. However, here is how I feel about most OTC stocks.
http://acsh.org/news/2016/04/27/turns-out-that-a-retracted-paper-on-fecal-transplants-is-full-of-shite
I hope this stock does well since I still have a little money tied up in it but I am becoming less optimistic as the days count down to when I plan to pull out :)
I was curious so I looked into what information was available. It appears suicide rates went from 14 to 17 in 100,000 during The Great Depression. I imagine it was much higher than what was reported due to the culture around suicide back then and the type of institutions that tracked that type of information.
Here is where I found that info:
https://www2.gwu.edu/~erpapers/teachinger/glossary/great-depression.cfm
"The only exception was suicide mortality which increased during the Great Depression, but accounted for less than 2% of deaths."
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2765209/
Interesting stuff.
Well I hope for whoever is long on this, or tried to ride the wave, that is the case. I am going with 86% chance this will not move. If I am am wrong I will eat crow.
You should still know how to spell your name. Go on and try it:
https://cpaverify.org/
You are 110% correct on that!
Or they have common sense and are able to look at things critically.
I am under 30% on this stock because I tried to time the wave at the right time. I am still going to be critical even if I lose every single dollar because it's important to be critical and if you have a problem with it your a pumper.
This is the reality.
In addition, that will require capital to purchase equipment, hire staff, and other high cost expenditures if it is in fact real etc.
Thanks, I just read it. MyFlorida.com is a weird state website since normally someone would expect a .gov address
It's a PR w/ confirmation that it's a business that has payed associated fees. I am curious about how Florida does their auditing. More to look into later.
And an upload of parcels of land. They need to get with the 21st century and not upload them via a copy machine. It makes it harder to read :P
Thanks, Daddy.
I have downloaded it. My concern stems from who "audits" a company. Having a family member own the CPA business auditing you is worrisome. The IRS has guidelines about this if you are a CPA. Also, I looked at the national database of CPA and guess what it's missing.
GLTA
Right, because I am critical about the 3rd grade level educated CPA that has typos, poor sentence structure, and can't spell her name right.
Get real.
There are multiple stocks out there that are undervalued. I think there is something much more fundamentally wrong with this stock than MM manipulation. I am inferring it's the business itself.
Well I reviewed all the documentation they have submitted (previous posts will highlight my concerns) and it appears there is very little follow up on the companies side.
I am curious your take on the time frame any meaningful will presented to the public. What do you think makes the fundamentals so strong on this one? I would be interested to see someone, other than me, lens on this. So far the more I uncover the less I like but maybe I am missing something.
Either way, this will continue to be an interesting stock to watch.
Why does this feel so much like a:
Pump
and
Dump
Well I had hoped I was wrong about this stock on Friday so let's see if this little stinker goes up or down this week!
Not sure, but there are plenty of stocks we could use as examples that had movement in both directions for no reasons. There are other stocks which were complete shells (Enron) that somehow were able to exist. I do not think this is an Enron at all just answering your question.
I will be contacting there business because I am fascinated with why people are on this hype train. I threw a few thousand at this stock just to see where it goes, it was free money off the USRM ride I was just on.
There are a ton of holes but maybe they are just old school and haven't gotten with the times. Your own DD is spot on and I am glad that someone else is evaluating this company with a critical lens.
I will send them off an e-mail once I formulate the questions that are most suitable for this company and should be addressed.
If you have any questions feel free to post them here and I will send it off.
I do but that's the beauty of being able to assess what type of risk you are taking.
As they say only invest what you are willing to lose. A few thousand is all I am willing to lose with this stock.
Likewise, have a great weekend. It should be an interesting Monday. It's possible there is a significant amount of buying pressure then so we will see!
GLTA
Likewise, congrats to you and your bank account. I hope it stays in the green- as with all other retail investors.
I am ok with being in the minority and bringing in fresh eyes into the conversation. If we do not critically evaluate where our money goes then whats the point. You might as well go to vegas.
Based on their last name I would agree with you. It should be worrisome though if they are unable to do medial tasks efficiently what makes you confident they can broker large million dollar deals? I have worked with people that have brokered those kind of deals and they would be shocked at this type of documentation. Not knocking on them anything, just pointing out reasons to be concerned.
More power to someone who migrates here, goes public, and successfully runs a business. Maybe that is how people in Florida do things but who knows lol
Look at how the CPA signed signed her name.
Then go here:
https://cpaverify.org/
Let me know if you find a CPA that spells her name that way.
I am just pointing this out- I have no real skin in the game minus a few grand in a long position.
Well, for one, it is a conflict of interest. Usually that is a big red flag in someone that has critical thinking skills. I mean the IRS has issues with it
Rev. 08/2015
GUIDANCE TO PRACTITIONERS REGARDING PROFESSIONAL
OBLIGATIONS UNDER TREASURY CIRCULAR NO. 230
Who is Subject to Treasury Circular No. 230
1
The provisions of Treasury C
ircular No. 230 apply to:
• Attorneys
• Certified Public Accountants
• Enrolled Agents
• Enrolled Actuaries
• Enrolled Retirement Plan Agents
• Appraisers
?
Individuals representing others pursuant
to limited practice regulations
?
Individuals giving written advice with
respect to any entity, transaction
plan or arrangement, or other plan
or arrangement, which is of a type
the IRS determines to have a potent
ial for tax avoidance or evasion.
The IRS’ Office of Professional Responsib
ility (OPR) may propose the censure,
suspension, or disbarment
of any practitioner, and the disqualification of any
appraiser, from practice befo
re the Internal Revenue
Service if the individual is
shown to be incompetent or disreputable,
fails to comply with any regulation in
Circular 230, or with intent
to defraud, willfully and know
ingly misleads or threatens
a client or prospective cli
ent. The OPR may also propose a monetary penalty for an
individual, and/or the employer of any in
dividual subject to Treasury Circular No.
230, for violations of Circular 230 if (i)
the violations occurred in connection with the
individual’s activities on behalf of the em
ployer and (ii) the employer knew or
reasonably should have known of the individual’s conduct.
Treasury Circular No. 230
§10.3, §10.7, §10.8, §10.50. 31 U.S.C. 330(b)
.
Selected Obligations Under Treasury Circular No. 230
The following is a summary description of
certain obligations under Treasury
Circular No. 230. This summary does not a
ddress all provisions of the Regulations.
You should read the Circular/Regulations
for a more complete understanding of the
duties and obligations of someo
ne practicing before the IRS.
Due Diligence
. You must exercise due diligence in
preparing and filing tax returns
and other documents/submi
ssions, and in determining the correctness of
representations made by you to
your client or to the IR
S. You can rely on the work
product of another person if you use reas
onable care in engaging, supervising,
training, and evaluating that person, ta
king into account the nature of the
relationship between you and that person. Yo
u generally may rely in good faith and
1
All references to the publication called Treasury Circular No. 230 are to the June, 2014 version found
at
http://www.irs.gov/pub
/irs-pdf/pcir230.pdf.
The corresponding Regulations are available at 31
CFR Subtitle A, Part 10.
Rev. 08/2015
without verification on inform
ation furnished by your c
lient, but you cannot ignore
other information that has been furnished to
you or which is actually known by you.
You must make reasonable inquiries if any in
formation furnished to you appears to
be incorrect, incomplete
or inconsistent with ot
her facts or assumptions.
Treasury
Circular No. 230 §10.22, §10.34(d)
.
Competence
. You must have the necessary
knowledge, skill, thoroughness, and
preparation for the matter fo
r which you have been engage
d. You may be able to
provide competent representation by re
searching and educating yourself on the
issue or by consulting with
another tax professional who you know or believe has
established competence in the field in ques
tion, but in doing so you must consider
the requirements of Internal Revenue Code §7216.
Treasury Circular No. 230 §10.35
.
Conflicts of Interest
. A conflict of interest
exists if representing on
e of your clients will
be directly adverse to another client. A con
flict of interest also exists if there is a
significant risk that representing a client
will be materially limited by your
responsibilities to another client, a former
client or a third person, or by your
personal interests. When a conflict of intere
st exists, you may not represent a client
in an IRS matter unless (i) you reasonably
believe that you can provide competent
and diligent representation to all affected
clients, (ii) your
representation is not
prohibited by law, and (iii) all affected clie
nts give informed, written consent to your
representation. You must retain thes
e consents for 36 months following the
termination of the engagement and ma
ke them available to the IRS/OPR upon
request.
Treasury Circular No. 230 §10.29
.
Tax Return Positions
. You cannot sign a tax return or re
fund claim or advise a client to
take a position on a tax return or refund clai
m that you know or should know contains
a position (i) for which there is no reasona
ble basis; (ii) which is an unreasonable
position as defined in Internal Revenue Code
§6694(a)(2); or, (iii) which is a willful
attempt to understate tax liability, or a re
ckless or intentional disregard of rules or
regulations. An unreasonable position is o
ne which lacks substantial authority as
defined in IRC §6662 but has a reasonable basi
s, and is disclosed. For purposes of
Circular 230
disclosure, if you advised the client
regarding the position, or you
prepared or signed the tax return, you must
inform a client of any penalties that are
reasonably likely to apply to the client wi
th respect to the tax return position and
how to avoid the penalties through disc
losure (or, by not taking the position).
Treasury Circular No. 230 §10.34
.
Written Tax Advice
. In providing written advice concerning any Federal tax matter,
you must (i) base your advice on reasona
ble assumptions, (ii) reasonably consider
all relevant facts that you
know or should know, and (iii)
use reasonable efforts to
identify and ascertain the relevant fact
s. You cannot rely upon representations,
statements, findings, or agr
eements that are unreasonable
or that you know to be
incorrect, inconsistent, or in
complete. You must not take into account the possibility
that a tax return will not be
audited or that a matter will not be raised on audit in
Rev. 08/2015
evaluating a Federal tax matter (audit lottery
). In providing your written advice, you
may rely in good faith on the advice of a
nother practitioner only
if that advice is
reasonable considering all facts and circum
stances. You cannot rely on the advice of
a person whom you know or should know is
not competent to provide the advice or
who has an unresolved conflict of
interest as defined in §10.29.
Treasury Circular No.
230 §10.37.
Errors and Omissions
. If you know that a client ha
s not complied with the U.S.
revenue laws or has made an error in, or
omission from, any return, affidavit, or
other document which the client submitted
or executed under U.S. revenue laws,
you must promptly inform the client of
that noncompliance, error, or omission and
advise the client regarding the consequences
under the Code and regulations of that
noncompliance, error, or omission. De
pending on the particular facts and
circumstances, the consequences of an
error or omission could include (among
other things) additional tax liabi
lity, civil penalties, intere
st, criminal penalties, and
an extension of the statute of limitations.
Treasury Circular No. 230 §10.21
.
Furnishing Information to the IRS/OPR
. If you receive a proper
and lawful request for
records or information from the IRS/OPR,
you must promptly submit the requested
information unless in good fa
ith you reasonably believe that
it is privileged. If the
requested information is not in
your or your client’s po
ssession, you must promptly
inform the requesting IRS personnel of that
fact. In the case of requests from the IRS,
you must also provide any information you
may have regarding who is in possession
of the requested information, but you
are not required (i) to make inquiries of
anyone other than your client or (ii) to
verify information provided by your client
regarding the person(s) in possession of t
he requested information. You must not
interfere with any lawful attempt by the IRS
to obtain information unless in good faith
you reasonably believe that the informatio
n is privileged. You cannot advise a client
to submit any document to the IRS that is
frivolous or that
contains or omits
information in a manner demo
nstrating an intentional
disregard of a rule or
regulation unless you also advise the client
to submit a document that evidences a
good faith challenge to the rule or regulation.
Treasury Circular No. 230 §10.20,
§10.34(b)
.
Handling Matters Promptly
. You cannot unreasonably delay
the prompt disposition of
any matter before the Internal Revenue
Service. This applies with respect to
responding to your client as well as to
IRS personnel. You cannot advise a client to
submit any document to the IRS for the
purpose of delaying or impeding the
administration of the Federal tax laws.
Treasury Circular No. 230 §10.23, §10.34(b)
.
Client Records
. On request of a client, you must
promptly return any client records
necessary for the client to comply with
his or her Federal tax obligations, even if
there is a dispute over fees. You may keep
copies of these records. If state law
allows you to retain a client
’s records in the case of
a fee dispute,
you need only
return the records that must be attached to
the client’s return but you must provide
Rev. 08/2015
the client with reasonable access to revie
w and copy any additional client records
retained by you that are necessary for the
client to comply with his or her Federal
tax obligations. The term “client records” in
cludes all written or electronic materials
provided to you by the client or a third pa
rty. “Client records” also include any tax
return or other document that you prepared
and previously delivered to the client, if
that return or document is
necessary for the client to co
mply with his or her current
Federal tax obligations. You are not required
to provide a client with of your work
product- i.e., any return, refund claim, or
other document that you have prepared
but not yet delivered to the client if (i)
you are withholding t
he document pending
the client’s payment of fees related to the
document and (ii) your contract with the
client requires the payment of those fees prior to delivery.
Treasury Circular No. 230
§10.28
.
Solicitation.
With respect to any Internal Rev
enue Service matter, you may not use
any form of public communication or p
rivate solicitation containing a false,
fraudulent, or coercive statem
ent or claim; or
a misleading or deceptive statement
or claim. You also may not assist, or acce
pt assistance from, an
y person or entity who
obtains clients or otherwise practices in
violation of the solicitation provisions
.
Treasury Circular No. 230 §10.30.
Negotiating Checks
. You may not endorse, negotiate
, electronically transfer, or
direct the deposit of any government check
relating to a Federa
l tax liability issued
to a client. This prohibits any person su
bject to Treasury Circular No. 230 from
directing or accepting payment from the gove
rnment to the taxpayer into an account
owned or controlled by that person. This pr
ovision does not apply to whistleblower
payments.
Treasury Circular No. 230 §10.31
.
Supervisory Responsibilities
. If you have or share principal authority and
responsibility for overseeing your firm’s
tax practice, you must take reasonable
steps to ensure that your firm has adequate
procedures in place to raise awareness
and to promote compliance with Circular
230 by your firm’s members, associates,
and employees and that all such employee
s are complying with the regulations
governing practice before the IRS.
Treasury Circular No. 230 §10.36
.
Personal Tax Compliance Responsibilities.
You are responsible for insuring the timely
filing and payment of your personal income
tax returns and the tax returns for any
entity over which you have, or share, cont
rol. Failing to file 4 of the last 5 years
income tax returns, or 5 of the last 7 qu
arters of employment/excise tax returns is
per se disreputable and incompetent c
onduct for which a practitioner may be
summarily suspended, indefinitely. The willful
evasion of the asse
ssment or payment
of tax is also conduct which violates Circular 230.
Treasury Circular No. 230
§10.51(a)(6)
.
Rev. 08/2015
Best Practices
. In addition to the rules with wh
ich persons must comply, Treasury
Circular No. 230, §10.33 includ
es aspirational best prac
tices for those who provide
advice and/or assistance in preparing submi
ssions to the IRS. Th
ese best practices
include:
• Communicating clearly with the c
lient regarding the terms of the
engagement.
• Establishing facts, determining which facts are relevant, evaluating the
reasonableness of any assumptions or
representations, relating applicable
law (including potentially applicable
judicial doctrines) to
the relevant facts,
and arriving at c
onclusions supported by
the law and the facts.
• Advising clients regarding the meanin
g of any conclusions reached by the
person subject to Circular 230.
• Advising clients whether they may av
oid accuracy-related penalties if the
client acts in reliance on that person’s advice.
• Acting fairly and with integrity in
practice before the Internal Revenue
Service.
Frequently Asked Questions
Following a disagreement between us, my
client called and demanded his records
back and is refusing to pay me for
my time. What are my obligations?
Generally, upon demand, you must return a
ll documents necessary for the client to
fulfill his tax obligations. In the case of a
dispute over fees for services rendered,
state law controls whether
you may be entitled to withhold some records, but otherwise, all documents obtained from the client or a third party must be returned.
Treasury Circular No. 230 §10.28.
I think my business partner is advising his clients to take credits for which they do not qualify. We have never had policies involving supervision or training since we are both licensed and neither of us “manages” the other. Can I be sanctioned for his negligent or reckless actions?
Yes. The IRS may designate one or more individuals to be responsible for the firm’s compliance with Circular 230. If you know or should have known of others within your firm who are engaged in a pattern or practice in violation of Circular 230, you could be held accountable for failure to correct the concompliance, even if it involves individuals who you do not supervise.
Treasury Circular No. 230 §10.36. Rev. 08/2015
I joined a tax resolution marketing service that refers representation clients to me for a fee. Is this type of solicitation allowed?
Yes, but you must be cautious about the referral service’s solicitation practices and advertising claims. You may not assist or accept assistance from any person or entity who obtains clients using false, fraudulent, or coercive claims or otherwise uses
misleading or deceptive advertising.
Treasury Circular No. 230 §10.30(d).
https://www.irs.gov/pub/irs-utl/guidance_regarding_professional_obligations_under_circular_230.pdf
http://www.thetaxadviser.com/issues/2011/nov/tpr-nov11.html
I mean what do I know- I am just some random guy on the internet providing factual information. I own this stock- I speculated- and I am pretty sure if I lost money I would laugh because it's pretty obvious. This is a gamble with a high reward but a very low chance of success.
I've been playing the OTC a lot more lately and find stocks similar to this fascinating. The speculation on this is fascinating and that we often forget how historically they tend to perform poorly.
I hope you make some good money and this company has some actual business coming in, my guess it's a family business that needs to get with it to be taken serious.
Anyways I would make sure to set up a stop in case this little fatty comes crashing down like I expect it will in a week or two.
Luckily I am already in. Figured I would ride the wave until it comes crashing down.
It's all part of the same family. It's worrisome- or it could be a good thing- but super questionable. Especially since they are using yahoo servers to conduct business. I mean think about that. The yahoo servers had a huge security breach yes a professional organization cannot afford to host their own website?
Hmm
First, there is "latter" meaning "letter", "Das" should "Did".
It's like they payed some Joe Shmoe to go incorporate a LLC and write the documentation. It instead looks like it was a family member.
Ljubica Stefanovic, President
1212 S. Main St Sut. B. Wildwood, Florida 34785 USA
http://eafninc.com/team
Look at the team
Board Members
Alexandra Stefanovic-Mundt
Christina Stefanovic
Slavoljub Stefanovic
Ljubica Stefanovic
Maria Stefanovic
Officers
Slavoljub Stefanovic, President
Good stuff
Is this a joke?
http://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=160957
The typos and lack of structure in this documentation is laughable and I'm shocked someone actually submitted this. No one could take this serious as a professional document.
Walls are meant to be broken. I do have a chisel if you have a hammer.
GLTA
They can encourage use of medications that are not money losing. Also, they can write those medications off if they sell them for a loss. I work with pharmacists and there are ways around that.
This should be an interesting few weeks with this stock. A decision with the litigation, new management, and good news with their new drug. The future is looking bright.
Insider, I guess I missed where Mars and Co. were allotted stocks. The biggest thing they can do it retire some of the stocks.
Hi Rostam (I assume a fellow Persian with that name)
I hope it does drop down in sp for a brief stint because I feel that it's a good opportunity to load up on more however there are some issues this company needs to address such as the amount of shares outstanding. They need to use 100000 to retire some stock. That would retire roughly 5 million shares which would be a good start.
Anyways, it's coming out of the woodwork a lot better than I thought it would, surprisingly. I had a lot more pessimism which was deserved until now.
Snup knows what I am putting down
We need to put the pressure on if they care about the investors money flow.
There needs to be some drama with form 4's around.
Otherwise this is going to stay sunk in the group.
Persian
Meow
Is out
(Thanks Snupoled for the idea ;0)
If we were lucky enough to have that happen I would buy back in :)
The history of those who were involved in this company made me extremely trepidatious when investing money. The audits have made me much more confident I can leave my money in this stock without worrying it will crash over night however it would be nice to see them do some insider buying. I will contact IR sometime this week and voice my concerns since I was unable to be on the conference call yesterday.
Hope everyone is doing well.