Carnegie Development Inc. (CDJM)

[BigBuy57]

That's just nuts. The SEC examines all aspects of the company before it approves an S1, including the way a company values itself.

The SEC is more rigorous today in its evaluation and review procedure than ever before. According to one Edgarizer, the average number of filings a company must make to secure approval for an S1 has increased to 3 to 5 filings (ESCU will soon make it's 3rd). The Edgarizer has one client that is making its 17th filing, still seeking to secure approval of it's S1. It's very tough getting an S1 approved.

Bottom line: the SEC is VERY interested in valuations, especially as they relate to former shell companies. You can bet they're scrutinizing every aspect of the Kerry appraisal.