Verus International Inc (VRUS)

[Hammertofall]

Speaking as someone who has prepared 10K's and other SEC filings for much larger public companies, I can attest that the exercise is no small task even with a large finance and accounting team.

The regulation reporting requirements and reporting traps to avoid investor litigation and having your audit firm sign off on the filing even in an age of safe harbor and SOX compliance can be daunting.

Given we are talking about an emerging company on a fast track for growth I am not as concerned regarding the issues they are having with filing on time currently. However, if the trend continues and does not improve over the course of the next couple of years I may need to reconsider the position I'm holding in VRUS.

Playing with the big boys from a business development and capital funding standpoint is one thing, but acting like the big boys from a compliance and reporting requirement is another. They have a top notch CFO, and this has to be on his priority list of things to rectify mid to long term if strategically VRUS true value is not only going to be attainable but sustainable. I'm confident they'll beef up and improve their "back of the house" organization through growth and process improvement.

I'm long, am managing my expectations, and looking forward to the next two years. Good luck to the rest of you.