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It would only effect income if there were liabilities associated with acquisition, which there is not
and how about when a professional valuation firm states formally that the IP assets from the acquisition have been overstated. Do you still think that this would be "irrelevant"?
Yes if that actually happened but it hasn't
Remember the assets were purchased with shares, not cash
If the valuation is lower or higher or maybe stays the same will gauge the effect on shareholder equity and overall value of company. The IP assets are not included as retained earnings or income or gross income, or net income or income at all...
Adding or deleting an asset will not change income, it will affect shareholder equity. "Several Million", is very unlikely as you assume it to be worthless.
Stock is stagnate, no volume, weak B/A, smart investors won't listen to your rhetoric. There's enough positive out there to wait & see how this plays out. The valuation will be irrelevant, the fact they own the patents, molds, and intellectual property is what matters. If revenues and sales are as they claim this stock will rebound nicely. If they show a nice profit then it's $3-5 stock.
You read way to deep into that. MDTR has stated numerous time that they were waiting on Prager to complete it work, it's obvious they weren't able to. What is the point of giving any notice if they can't complete the audit. They had nine months....nine months, they should have been fired long ago.
WOW, did we read the same 8K, no where does it say abruptly or lead one to assume "something is very wrong". It says quite the opposite with a letter from Prager confirming that.
So Prager did resign, no reason given as to why. Very unprofessional of an accounting firm to leave a client hanging like that.
If anyone interested, Jack has been very good at replying to my emails.
jrein@medtainerinc.com
I asked for specif dates regarding any upcoming filing and if delay was for possible buyout and about there valuation of assets in 2018. Below was his response...
I do not have any more information, and I don’t speak to rumors. We will publish as soon as it is lawfully possible.
Jack
The email from Jack stated that they were no longer a client...Any comments on whether they were fired or resigned is a guess. It may not even be either, Preger could have finished their work and MDTR just chose not to use it and is getting a second opinion.
One I sent him, almost an immediate reply
Got another email from Jack, he wouldn't give any kind of time line for any filings. 10K, 10Q, 8K or any PR. Just said when they can file lawfully they will.
According to the email I received they didn't specify either way.
We can all speculate, but that has no usefulness to anyone. If they do file an 8K, that should explain in some detail whats going on. According to Jack this is going to happen very soon.
Email was today at 12:50pm. I gave him my point of view, which was not very nice " but professional" and he responded within an hr.
Evidently Prager has been fired, incompetence for timely release or MDTR didn't like what they had to say. Anyone's guess
A cause for more concern or not. Email from Jack Rein
We are no longer a client of Prager Metis. We have retained another auditor to complete our financials. They have assured us that we will have completed documents as soon as possible.
By law, an 8-K, or possibly two 8-Ks, will be made public very soon explaining these decisions. There is, even at this moment, no concern on our part that any negative event or discovery has taken place or has been previously published or will be published, that causes us concern. I would also address your concern about your investment to say that we are ALL investors in this company and we are acutely aware of the impact this event has had on our investment community. We remain very confident that, once this episode is behind us, we will emerge quickly and confidently from this point on.
Thank you, again, for your patience and confidence.
All my best,
Jack
I've experienced the same, told myself never again and yet here i am.
Don't use twitter, never have
Maybe we need to start emailing Mr. Fairbrother since Jack it seems has been a lot of BS. Anyone have his # and or email.
My email reply from Jack, generic I'm sure.
We are waiting, as is everyone else, for the auditor to release its opinion. Our lawyers are in touch with them and will give us the OK to publish once their opinion is ready and released. Until their opinion is published we cannot release our financials.
Please fell free to reach out for an update anytime. Thanks for your patience.
Jack
Would you happen to have his email
Can you post link, I couldn't find any PR
Do you have to resort to childish behavior
IMHO, means you have no idea what revs will be
I would assume new auditor did a full year review. They have to stand behind their work and not that of another.
My point was they only had the current auditor see what they did and was not previously reviewed. Bad management "lol", it's obvious he has major holdings or he would have been fired by now.
Your assuming an outside auditor valued or agreed with the companies value upon acquisition of the patents and related intangibles. I hire a CPA "auditor" only for year end with my company. I would assume MDTR does the same based on their size. An audit for me has taken up to six weeks, normal 2-3 weeks.
Your right, it's just beyond frustrating that all this is due to bad management and not actual performance of MDTR. Unless they lied about sales ...
I hope not also, lower it is the less likely a full recovery. I was hoping for a decent profit off this stock. Now it seems less and less likely to even get back to RS price.
New week without any updates, let the dump begin
Competion make the world go around...
That like says why do we have pepsi when we have coke.
My apologies if the truth offends you, or my opinion doesn't meet your approval.
HA, so someone buys a hundred bucks worth so it doesn't look like a freefall.
If I had to guess, which I am, they never finished high school.
I'm one of them, gonna drop 10k shares if no news this week.