She is not wrong, however, she is not completely accurate. I know Janice very well. All securities issued must be reconciled from inception and the B/S has to be audited three years, two years, and FYE for the Cash Flow and P/L to have a starting point for the two years.
If a company was just spitting out stock or a start up, it would not take much time or cost, but with iTalk, the transactions are large in quantity and the support has to be discovered and provided for the audit. The new auditor can if they so decide to rely the prior auditor before Johnson when it comes to reconciliation to security issuances and transfers.
If UMS emerges and wants to go public as a small cap OTC trading company, best they file their own registration. Legal and accounting is a large capital expenditure for iTalk and UMS at this point.
