probe1, just one more thought. I don't know how large PLNI's accounting group is. I also don't know how automated they are. I know that at one company I went to work for as Accounting Manager, it took two months to close the year end books when I went there. It took another two plus months to complete the audit.
I helped drive a full ManMan manufacturing system and utilized PC's to download information from the mainframe. I wrote and tied together several small subroutines (macros) to sort and report.
Three years after I went to work there, we closed the year in two weeks. The internal auditors had all of the backup info (since it came from the mainframe and was easily traceable) and we finished the audited statements in two weeks, including all audit adjustments.
So, at PLNI, which is just a small startup company, I wouldn't expect year end audited statements in much less than 4 months if they are pretty good and have an adequate staff. Remember, the day-to-day work has to continue while you're closing, taking inventory, making adjustments and being bugged by auditors.
I would, however, find it not unreasonable to have published quarterlies within two months of the quarter end, once the company is caught up. They just finished 2005.
Since quarterly reports are usually not audited, I expect to see the second quarter in this coming month.
From my experience and my opinions
