ECHO: It's going to be a slow old process. They employed Heaton's, the new Auditor's to deal with the unsubmitted two years Filings. According to Heaton's last note (available for all to see), anomlay's have arisen, so whatever they are may be delaying the completion of the books?
Because there's been no recent updates, the buying trend has declined and the selling has increased, hence the Share Price is back down. Essentially, normal trading on recent 'highs'.
Bob said he hoped that the Filings would be completed by Xmas, but I doubt it. These are experienced Auditor's, so how they've managed to take this long so far in dealing with basic accounts beggars belief. As FLPC is such a small Concern, they will be dealing purely with outputs as there probably isn't any input except that which the Director's are alleged to be putting in from their own pockets, although until we see the Filings with evidence of that input, we don't know.
Personally, I think their accounts are a 'Shambles' with as little shown as deemed necessary. Standard practice. One thing's for sure, they won't be paying any Tax because there's no profit!!
Some folk say, "Looking good here", but it's not, it's worse because nobody really know's what's going on. Their so-called "Restructure" is a big word to cover a multitude of 'sins. A TINY company doesn't take 2.7 Years to "Restructure" itself, so to me, the "Restructure" is purely a stalling tactic and rubbish. Even Polaroid managed to sort themselves out more quickly! Nothing's changed. FLPC is STILL in the same position as it was (that we know of) 2.7 years ago.
This Board is taking the Mickey out of all Investor's, but they haven't quite latched on to that yet. Doh! LOL. Wonder what Tale they will come up with next?!!
AI
