I know there are other accountants, but Borgers is full of contradictions.
He told me on June 17 that he hadn't heard from Gifa in about 9 months (which was right around the time the merger was completed). He proceeded to say that he doesn't understand why he hasn't been paid because all of the numbers look good, and he's 85-90% finished with everything. I asked him how far along he is with the balance sheets because 85-90% could be in reference to everything including 2019, or it could reference 2018 only because that is the one that needs to be audited.
He said flat out... I'm 85-90% finished with 2018, and the numbers look good. He deals with a lot of companies with bad numbers to where the SEC gets involved. He said that's not the case with Gifa.
What I don't understand is if he hadn't heard from them since September/October of last year, then how can he have 2018 Q3 and Q4 since they weren't even available yet? Many people, including me, received emails from him about one month later claiming that he only had numbers up to March 2017. How the hell can the numbers look good when they're all zeros for that time period? It doesn't make any sense. Finally, Borgers told me that he called "the lawyer" a few times who told him that everything is fine. If he's speaking to the lawyer, then he's speaking to Gifa.
To make things even more confusing, the press releases tell a story different from what Borgers is saying.
SAN DIEGO, Calif., Feb. 04, 2019 GIFA, Inc. Announces Acquisition of GIFA Holding Limited, the Divestiture of Firefish Private Networks Limited and More Recently, the Acquisition of Grandex Finance Limited
"We previously filed our 2016 Annual Report on Form 10-K and certain Quarterly Reports on Form 10-Q. As circumstances allow, we anticipate that we may be filing additional Reports for the 2017 and 2018 calendar periods in the near future."
Filing additional reports? If he's about to file reports to the SEC, then he must have the reports to begin with.
SAN DIEGO, Calif., March 7, 2019 GIFA, Inc. Announces That it is Exploring Potential Acquisition Opportunities in the Pharmaceutical Business Sector
"We are working to complete the filing of several periodic reports with the U.S. Securities and Exchange Commission but we cannot assure you that these will be filed."
Working to "complete" the filing? If he already had those reports, but was held back because of Intel, then they have somebody else doing those reports. I don't trust a word Borgers says because he told me one thing, and told everyone else something different. He said the numbers look great. How the hell do a bunch of zeros look great? He hadn't heard from Gifa in almost a year, but spoke with the lawyer a few times. The guy doesn't even know who he's dealing with.
