Dewmar International BMC Inc (DEWM)

[jfboston]

You can call it an excuse or whatever you want. It is more of a common sense explanation. How many audits have you performed? I audited a company with year end 6/30/13 in May of 2014. 11 months after their year end. It was a giant pain, we had to test 11months of a sub GL. Eventually the audit report and management letter has to be released. The primary driver behind closing the audit is tax penalties. DEWM will have to file an 1120 by 9/15/14 or face penalties and interest.

I'm not defending DEWM's practices so don't get all snarky with me. I'm just explaining to people who don't perform audits, prepare tax returns, or work with CPAs how things work sometimes.

If you lose money the only guy you have to blame is yourself. Afterall, investing's favorite meal to serve is humble pie.