Trucept, Inc. (TREP)

[Lazarus]

There's plenty of other exciting ways to lose money than investing in TREP

From the last 10k

As of December 31, 2012, the Company had an obligation for $16.7 million in delinquent payroll taxes and $2.4 million in accrued penalties. These amounts are due to the U.S. Treasury and represent collection of employment taxes from its PEO employees. The Company is in discussions to reach a payment plan with the Internal Revenue Service (IRS) regarding these amounts due. The U. S. Treasury and IRS will have a priority claim on all accounts of the Company until this is resolved.

It's clauses like this that compel a company to cease filing AUDITED financial statements. The above statement was a:

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The devil is in the details and the non-SEC reports don't give all the details.

Note what the current quarterly report states on Page 17 Item 4

Accountant or Auditor:
None

Shareholders are no longer getting the full picture.


- NOBODY here is telling you this (other than me) - because they want you to buy the stock.

Be careful