Astika Holdings Inc (ASKH)

[Renegades17]

I pointed out the audit issue a long time ago

And was criticized...it's more than counting inventory, as another poster suggested. I don't believe the target was employing US GAAP. Also, the auditors will be very careful to make sure the revenues are legit (and not due to stuffing channels). I can see why this is taking time. There's also the issue of accruals..

The financing issue was also an obvious reason for the weakness. I hope he can work that out.

On the positive side, it's unlikely the target is going to start an M&A process with another buyer until this one reaches a conclusion. It's time consuming to go through due diligence and could result in a delay of several months. They obviously want this done too provided the financing is in place.