Sugarmade Inc (SGMD)

[josbor8]

Truth be told? It’s probably the working with the auditors portion that’s slowing them down. They used Borgers to become current so auditors need to review the prior work to confirm that they do not have any complaints as well as they are molding the standards for how the company is doing the accounting work. If it’s taking this long and they really are including the auditors, they’re doing it for 2 or 3 purposes:

1.) Year ending financials coming due soon will be completed on time as they’ll only have to audit the final quarterly report once they have the backlog done

2.) Securing finance via a lender for inventory or other necessities requires a years worth of audited financials

3.) They are working with the auditors on acquiring another company and they’ve hired the auditors to assist in the review process.