ORHUB Inc. (ORHB)

[feelin_it]

Yes, I was shocked and disappointed. I then reread the last note.
It looks like a good quality securities law group was hired help our company meet a higher level of scrutiny. They also hired a good quality accounting team out of NY to administer the new guidelines.


Randy you are right about the Crazy rule that said the CEO or the CFO had to approve expenses.. especially since Colt was a loose cannon last year.

But the following adds checks and balances.

... (3) it has implemented a two-step process and dual-signature approval for the entry of all payables and the subsequent payment of all payables; (4) it established routine and designated account to pay CEO compensation on monthly basis under the terms of his employment agreement; and (5) it added an additional independent member to the board as the audit chair and formed a compensation committee consisting of the audit chair and another member of the board (non-CEO).


They are using the NY accounting firm to do real time auditing and process verifications. Again I see this as a good thing and may be getting ready for the big show.


Maybe I am just a hopeful, But it's what I was thinking.