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Thursday, October 19, 2006 7:01:33 PM
.....after reading the post regarding RSM-TopAudit, I am now totally confused....:).
Back in July, during the various discussions re: whether the merger was actually completed, I pointed out very clearly that one of the conditions of the merger was that both companies provide audited financials. North West Oil Group provided financials audited by RSM-TopAudit, Nord Oil provided no audited financials.....but the claim was that the merger had definitely been completed and I was wrong. I was not the only one taking this position, as some of the longs were also claiming the merger wasn't complete.
Now I am learning that RSM Top Audit cannot actually provide audited financials and expect them to be accepted by the SEC. If one looks at the 8-K filed with the SEC on June 5 it clearly states that the audit was done by RSM. It would seem to me, then, that the filing does not meet any SEC standard and cannot be considered valid. Plus, if Parkin knew this, why would he signoff on an SEC filing which he already knows is not acceptable. Awful confusing.
Can anyone clear it up for me without calling me names or questioning me as to why I am asking the question?
Can anyone clear this up
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