Friday, August 29, 2014 1:03:08 PM
Because of the strict rules and guidelines placed by the SEC, Ryan Schadel does not get to pick and choose what is included and conveniently deleted from LTNC's financial statements. The company's SEC Auditing Firm has absolute control over what information is included, how it is recorded and ultimately disseminated on the company's financial statement.
Today, SEC auditing and accounting firms are held to an extremely high standard and have to follow very strict guidelines. Anything less can carry severe liabilities and career ending consequences.
Personally, if I felt that a company was purposely holding back information and being deceitful, I would liquidate my position and move on to something more productive and positive. That is obviously not the case here.
JMHO
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