Zerify Inc (ZRFY)

[moneym8ker]

No...
No!
No!
No!

Once again, we get to come back and revisit the whole "making up, fabricating, conjuring, dreaming up" reasons to hold SFOR as it sheds market cap and bleeds share price.

SFOR hired an accountant...they did so ahead of a 10K.


FACT:

10Q's DO NOT NEED TO BE AUDITED.

Large companies with plenty of cash will audit each quarterly filing. BUT no one has to.

10K's must be audited.


You see... years ago, there were no 10Q's. Investors would wait a year between 10K's. Sometimes they'd be thrilled, and sometimes they'd be rocked with the insight of a terrible year.

So...the SEC said "file quarterly reports"
And companies, big and small complained about the costs.

So...
The SEC said "fine... file quarterly summaries, compare them to previous quarters and offer any kind of guidance you can...BUT they don't have to be audited"

And so that's where (this was a very brief summary of how 10Q's came about) 10Q's came from.

So...to this day, 10Q's don't go through the rigors of a 10K.

That's why NT10Q's are such a big red flag. They don't require the time or the costs that a 10K does...so any company who says we have to file a NT for our 10Q is really showing mismanaged time and poor financial health.

SFOR hired an auditor because their 10K will be due in a few months.

They did not do it so they could show some "mystical, mysterious suitor" the books.