They've had the chances to file reports and audited statements but they have failed to do so, even now. They've had more than a year of operations (18 months) to file something and we still have nothing but their last report from 2010 Q1. I just find that somewhat disingenuous if not dishonest and/or with the intention of concealing material fact and information regarding the company, its finances and issues.
The tax thing is a good example. There should be a note, even in this interim report, as to the background of that issue. It's more than 10% of their current payables/liabilities.
DD is only s good as the data and factual information you can get and trust. This is a public company being run like a sole proprietorship and the shareholders very little other than these unaudited reports filled with mysterious unexplained items along with comments from management that are quite hard to believe given the facts. Don't you believe they should be more forthcoming and why do you think they're not? You want to be a public company and take money from John Q Public, open the books and act like a public company where the public owns it, not the Eyraud family and friends.
And I'll remind you of one other thing and that is their last audited official statement back at the end of 2009. I've brought this up before and no one had an answer. What happened to the $5,000,000 that was on the balance sheet? Am I saying the company is doing something illegal? No. I'm just saying there are some pretty questionable items on the books from the past and just as many at present and the same people are involved. I think it requires an extra step in DD to uncover if they've made mistakes or if there is something going on that shouldn't be. As long as they don't officially release and file, no one can say and THEY know that and that's the real crux of the issue here and why I question, as would any astute investor, their intentions.
