We have much to share in the coming weeks regarding George R.R. Martin’s The Skin Trade, a newly negotiated acquisition and development on a new media channel.
That said, we have a number of shareholder requests for a timeline on completion of audit and submission of Form 10 which is a major priority for all of us with a stake in Mike The Pike. To that, I have reached out to our auditor and CFO and requested a detailed punch list of exactly what we have left to do to finalize financial statements based on the audit, after which point, the attorney will complete a final review toward submission of the Form 10.
Here is the response I received from our auditor today. These are best-guess dates, and we can only best-guess 100% completion until its done. I realize I’ve made several attempts at locking down a hard final date for this to be done & done, however at this point, I think guesstimates have worn out their welcome— so the best I can do is offer a punch list to demonstrate progress in finalizing these steps toward becoming a fully reporting company. It’s been a long road for certain, and one I’ve never been down before, but this is the road we must take to continue on our journey. Thanks again for your patience and understanding.
So without further ado– here are the remaining steps we have to take:
1.Prepare financial statements, Balance Sheet, Statement of operations, Statement of Changes for Stockholders’ Equity, and Statement of Cash Flows for 2012 and 2013 including the notes 2.Update the MDA 3.Complete the bookkeeping for first quarter March 31, 2014. 4.Prepare the financial statements for March 31, 2014. 5.Prepare adjusting journal entries for March 31, 2014, including interest accruals, salary, reclassify for any expenses not considered company expense. 6.Read and make comments on the financials, including completing the disclosure checklists and other closing workpapers that are required under a PCAOB audit. 7.Update workpapers for the review of the March 31, 2014 presentation. 8.Prepare review workpapers. 9.Inquire into the changes in the amounts based on 2013 amounts. 10.Compare information obtained to the financial statements and make comments. 11.During this process prepare additional journal entries, if necessary. 12.Respond to my questions and comments. Update the notes and financial statements, including supporting MDA 13.Internal review by Charles Klein. 14.Send the financial statement for a required PCAOB review done by our Quality reviewer. The review normally takes about four hours. 15.Send Jim the comments prepared by our Quality reviewer. 16.You need to be filed by August 14, 2014, to avoid additional updates, but once this is completed you should immediately get the second quarter ready for filing. from the auditor: “Today, I have to update several Companies for their filing next Friday.
Normally, completed 10K’s are given to us at the beginning of an audit, allowing us to review the financial statements and notes during the audit. The attorney has his updates completed by the time of the audit. He may read the financial statements, but normally does not comment unless something is different in the 10K. We are also reading for inconsistencies.
We normally have less than five journal entries during the review of the 10K or 10Q. We have over sixty journal entries for 2011, 2012, and 2013.
Based on all these steps, we are probably looking at Monday orTuesday. If I can get the reports by tomorrow, I will be able to get the additional workpapers completed over the weekend.”
——-end of quote—– So there you have it— all the juicy details– For future updates, please check Facebook as I remain optimistic that we’ll be submitting our Form 10 much sooner than later.
—- Thanks again— Mark B. Newbauer, CEO, Mike The Pike Productions
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