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Re: Dolphins88 post# 784

Tuesday, 07/01/2014 2:42:47 PM

Tuesday, July 01, 2014 2:42:47 PM

Post# of 817
Why does A**W need to file an S-1? The last audit was for the period ending January 31, 2014. That was 150 days ago. The financials are now stale and need to be audited up to at least the quarterly ending April 30, 2014 to be included in an S-1. Have they started the audit? How long will that take? Once audited and filed, how long will the comment phase take? Any idea on the cost of auditing the first quarter and the filing and comment phase of an S-1?

What if the S-1 takes longer than six months whereby the shareholders can use safe harbor Rule 144 as an exemption to remove the legend? What becomes of the S-1?

How are these shares being distributed? What are the tax consequences to the shareholders? Is it an asset distribution or a dividend?

Inquiring minds want to know.

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