AFs after Oct 8, at the earliest, is my guess.
gratitudedude I posted this last night but you probably didn't see it. FWIW another poster said possibly after October 15 to satisfy the 45 day need for quarterly reviews.
Anyway, here is why.
It's reasonable to think that when Petar Vucicevich announced on Sept 13 "The company financial audit is nearing completion. We anticipate having the audit stamped this week" he had NOT seen these AFs nor had he been briefed in detail about the various complexities. Even IF that AF for previous fiscal years HAS been completed, I think it's also very reasonable to assume that for strategic, credibility and pure financial reasons they would want to include:
1) revised Q1 Pro-formas for this fiscal year (June-Aug based on 06 calendar, although oddly their 2007 PFs start in August and not in June.) This would require anywhere from 3 weeks to 5 weeks to be done, and given that we are looking at international deals 5 weeks is more likely ("Also, we have to ensure that these final audits meet all necessary standards and legal requirements as stated in all these different regions.")
2) Current and accurate information about assets, A/S, etc. Let us not forget that SOS was just updated by NV two days ago. Big accounting firms aren't just waiting with baited breath for SOS-type things to be done, once that's taken care of it may easily take them another week or two to sign on the proverbial dooted line. As many have correctly pointed out none of this is in the CEO's hands.
Hence, any day starting October 9 for completed and PR'd AFs would make sense to me.
Like you I have owned this one for a good while, perhaps I am just a smidgeon more patient, I do note the significantly improved wording in the latest PR (not written IMHO by PV, and no offense meant BTW, he is a great dealmaker and PRs shouldn't be crafted by CEOs anyway) and I do believe that the company is 100% honest when they say: "The delay is nothing to worry about." Ditto for: "We understand the frustration that our shareholders might feel and apologize again for this delay."
I do not concern myself with the word "slight," knowing from personal experience that it could mean anywhere from days to months depending on situation, culture, etc. In this case it probably will turn out to be a few weeks, which is NOTHING when one looks at the big picture with SLJB.
AI
