Dear David, Thanks again for your feedback and support. We retained RRBB in December of 2016 and they began the audit in earnest in May of 2017 after the tax season. Approximately one year was devoted to very detailed background work (verifying financial transactions, inventory, Monte Carlo etc). Thereafter, the audit is the industry standard 8-12 weeks per fiscal year. We are filing all of the 10-Ks and 10-Qs in a single filing, which explains the current timeline. The filing date will be provided in a formal press release. Best wishes to you and your family for a happy holiday season and a prosperous New Year. Thanks, Mark
My response
Mark
So I am understanding this correctly
We retained RRBB in December of 2016 and they began the audit in earnest in May of 2017 after the tax season.
The clock began running in May of 2017 and took an entire year to provide all information to RRBB for all years to be included in the audit.
What years at that point was to be included in the audit?
What was the plan regarding releasing financials in May of 2018?
If those plans changed when did they change and why were they changed after the audit had started?
Thereafter, the audit is the industry standard 8-12 weeks per fiscal year.
So the 8-12 week clock began in May of 2018?
Why did you state financials would be out in summer of 2018 if the audit for the first year of missing financials didn’t start until May? That seems like everyone knew that date was unattainable.
The first year of missing financials at the worst case would be finished by August 2018? So then you can confirm that the first year of delinquent financials are completed and waiting to be filed?
So the second year of delinquent financials clock would be running by August of 2018 and worst case be completed by November of 2018.
Again, according to your timeline the second year of delinquent financials should be completed and awaiting filing. Is this correct.
This brings us to November 2018 or there about. Again this isn’t the full year so a full 12 weeks isn’t necessary. So true current year financials that are delinquent should have started in November of 2018. An almost impossible taste to be done by end of Fall. Even at 6 weeks we are talking mid January.
I look forward to your response as many investors are simply looking for answers.
AI
