On4 Communications Inc (ONCI)

[berdboy]

Steve CEO of $ONCI posted the top left corner of the engagement letter to hide the 2nd paragraph which describes the "Scope of Work". That's just my observation as a retired CPA. He wants investors to believe the external auditor is conducting an audit (like he claimed in the PR) and as such will comply with GAAP and test and confirm accounts receivables, sales and sales returns; as well as, take a physical inventory. In reality, the relationship with Mazars USA LLP (if there is actually one) will be limited to a Review or Compilation engagement and A/R, Sales and Inventory numbers will be accepted "as is" by the outside accountant. Or the outside accountant will just make some minor adjustments at year-end for proper Sales and Inventory cut-offs.

Here's a list of deficiencies of the engagement letter ONCI posted on Twitter last week. Draw your own conclusions. Mine are it's fake and not an Audit engagement letter from ONCI and will be deleted from Twitter once the truth is revealed. JMO

pic.twitter.com/FLZapESHsn

— On4 Communications (@on4company) November 24, 2017

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