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Friday, November 06, 2015 9:33:22 PM
I'm fairly certain that the 10K is coming. As I've stated previously, it is one thing to PR a new auditor and claim a filing will be made, but IMO the SEC filing stating the same thing confirmed its legitimacy.
I've also stated previously on multiple occassions that most retail investors have zero clue what is involved in an audit and in issuing SEC filings, in particular 10K's and 10Q's. I will re-iterate: When a new auditor comes on board, they are NOT simply picking up where the predecessor auditor left off. A new auditor is being tasked with signing their name on a set of financial statements as well as certifying to the internal control environment. No auditor is going to do such a thing without conducting THEIR OWN audit. This means re-inventing the wheel and performing substantially the entire audit all over again. This takes time.
Many people are naive in thinking that the new auditors are devoting an entire team to spend 8 hours a day, 40 hours a week until it is done. This is not how auditors schedule their time. They are servicing other clients as well.
That all being said, I will also re-iterate that the filing itself is not a legitimate catalyst as the numbers have been publicly known for almost a year now -- but this won't prevent the filing from being pumped to high heaven anyways. So just be aware of what legitimate catalysts are that will result in sustainable appreciation in the sp vs fake catalysts that will result in only short-term pops.
GLTA...
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