On4 Communications Inc (ONCI)

[TJG]

They would know by now if the auditors are not able to perform by the deadline. I'm sure they would have filed an extension by now. I worked in the accounting industry for years.

You may have worked in the field but it works different with a public company. Because the SEC only allows you 5 days for a Q filing and 15 days for a K filing auditors along with the companys wait until the last day to file the NT so they are extended out as long as possible.

If the audit firm knows they will be late and they file the notice now they are cutting 5 days off their own time line. Because the 15 days would start from the day of the NT filing...if they wait until Jan 30 then they have these fives days to continue to work on it.

Since this is the first Audit for ONCI and to be SEC compliant they have to do 2 years worth of audits its not going to be a shock if they are late, most are.

Oh I better ad this.. IMO, well some of its fact and some of its opinion.