Auto Parts 4Less Group Inc (FLES)

[chokum]

IMO, We need to company the get current on their financials and in good standing with the SEC.

They are currently working to get the Q2 numbers compiled and submitted to LJ Soldinger & Associates for review, before submission to SEC.

If they get in done in time, they will be current. If they wait too long, they will not be current because of delinquency for Q3.

Once they are in good standing, they should also start doing more PR's to sell their company to attract new share holders. I haven't heard much chatter about institutional investors recently, so not sure if that option is still on the table. But if they can land an institutional investor in the future, it would be a nice thing.

IMO, lot's of "IF's" in play.

This week overview:

- Q1 was released
- Update on new Account Firm ( LJ Soldinger & Associates ) was shared
- Update to O/S was made as well


We've received three updates in a single week. Seems like Chris is working to get information out to us.


I was talking with a friend about FLES's financial filings earlier this morning, and we were skeptical about FLES's ability to file the Q2 in a timely manner. We spoke about how FLES might be dragging their feet intentionally. However, at this point - we just don't have the evidence to say yay or nay to the thought it was intentionally done by FLES.

We do however, have a statement from Chris that somewhat implies the numbers were late due to Fruci's involvement. We know that Fruci had also been searching for employees with the skillset required to audit for a while now as well. So information on that somewhat points to the fact that Q1 may have been delayed because of Fruci. However, we have no solid date/times on when the Q1 was provided to Fruci for review.

That being said, the turn around time it takes FLES to provide Q2 numbers to LJ Soldinger & Associates, the time it take LJ Soldinger & Associates to review, and the time it takes FLES to submit to SEC is certainly being watched like a hawk this time around. At the moment, we have been given indication that the Q2 numbers are still being compiled by FLES and have not been provided to LJ Soldinger & Associates for review. No solid absolutes in that statement, just gleaning information out of email below:

https://ibb.co/tPQzymY

"Yes, once the Q2 is completed the new auditors will review prior to filing and they will then be current. " - Jack

If you read between the lines here, it seems they are also aiming to be current on filing Q2 before Q3 comes due.

The only somewhat worrisome thought brought up by my friend, was that Tim was in charge of putting the Q together. But if Chris is taking a larger role in things like he said he was, perhaps Chris will support Tim in getting the report completed in a timely manner. Hell, we're already delinquent - but a lot sooner than it would take were Chris not involved in the process.

Hitting trips suck, definitely. But I'm still hopeful for FLES.

Take a breather from the boards
if all the static is getting to you. I still think we have a fighting chance here.


In the mean time - I wait. .....






DROP THE NEXT Q !!!
$FLES