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Re: None

Wednesday, 11/01/2006 4:28:05 AM

Wednesday, November 01, 2006 4:28:05 AM

Post# of 82842
The biggest concern I've found on CKYS: greentree financial

they suck, and that's an understatement...they are possibly the worst accounting firm in history. they've been in the business for 4-5 years and to my knowledge have never completed an audit, and i know for a fact that they've never managed to file any audited financials with the SEC. they've been under fire for, in the past: leaking info, for accepting stock as payment (big no-no), and for just a general level of unprofessionalism. they screwed HISC last year, and made a name for themselves screwing EMAX a few year back.

and from what I can see, they're pulling the same crap with CKYS, giving shareholders inside info, making up deadlines out of thin air, etc.

I've already sent an email to IR giving them a rundown and suggesting the find a new auditor, if what I see from the rest of my DD is decent enough to point i'm willing to buy in here, I'll make a call or two and write a letter as well. I looked at their financials, they are crystal clear, there's like 7 lines on their balance sheet, an intensive audit should have taken about a week, a more casual audit should have taken 2-3 weeks tops. Inventory and cash are immaterial, the AR balance is all with the US govt, the only other major account on the balance sheet is the AP. It's situations like this that make me want to get back into the audit business

somehow greentree managed to turn a very simple audit into a mutli-month affair, if ckys dumps them i'd give the stock a green light. i made a post tonight on the board about the healthcare potential, with just a few modifications CKYS could turn their current product into a staple amongst public hospitals in the US


-from a PM I sent earlier.

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