Bob, I think that your question is your answer. We have a local auditor doing what he can in the circumstances and doing it for far less money than a larger, more dependable firm would probably do. PLNI, in my estimation, cannot afford more expense to get audited past-period financials out, nor should they pay more for this. I would rather see them invest in more business and forward-looking revenue generation (like the additional machines). The PPS will come sooner if the company is successful. Statements won't make a dime. Improved business and profit will.
The audited '05 statements probably won't change much, if any, from the released '05 financials.
I also don't anticipate an immediate jump to OTC:BB increasing the PPS dramatically, if any.
From an investor’s point of view, it's my opinion that the second quarter results are more important than the audited '05 financials. If it shows improvement (smaller loss) or improved revenues with an explanation of extraordinary, non-recurring expenses such as legal, audit (past period catch-up), and non-cash write-offs for the acquisitions, I would be very happy.
PLNI, IMO, is going in the right direction.
I have nothing to say at this time about the buyback and I will wait until the terms are released in September before I even think about it.
In the meantime, I think that those who have held long will be rewarded but I don't think it will be in '06. I believe it will happen in '07 when, in my opinion, PLNI will become a profitable company.
I hope that the improving financials cause the PPS to grow with their improvement.
This is all my opinion.
I would urge everyone who hasn't read rrm's post (analogy) to read, if no other part, the last part entitled "The Cure".
The entire article, both for what it is and as an analogy of the PLNI situation is quite excellent, IMHO.
This is just my opinion.
