SEC Audit?
On Sept 25, 2019, Signet publicly announced:
Palm Beach, FL. September 25, 2019. Mr. Ernest Letiziano, CEO of Signet International Holdings, Inc., announced today that an audit of the company will begin September 30. Signet and its subsidiaries will undergo an audit of its financial statements for 2017 and 2018.
The audit, conducted by the independent PA firm of Salberg & Company, is anticipated to take no more than 4-6 weeks, with a report issued by mid-November 2019.
This is excellent news for investors in Signet (OTC: SIGN). Once completed, Signet will bring its filings with the SEC current by the end of the year.
Then on November 20, 2019, the company announced:
Palm Beach, FL. November 20, 2019. The Signet Board of Directors agreed with the Audit Committee and the recently appointed CFO to proceed with Year-End audits which consolidated statements for both 2018 and 2019 in one comprehensive filing compilation.
Couple of questions.
1) What happened to the audit conducted by Salberg & Co. that was supposed to be completed a month ago?
2) With 11 days left in 2019, it appears Signet will not "bring its filing with the SEC current by the end of the year." Has the company explained why?
3) The November press release said they were consolidating both 2018 and 2019 financials into one comprehensive filing. The September press release said an audit beginning September 30 would review 2017 and 2018, yet the most recent press release said the audit is for 2018 and 2019.
These statements by the company don't provide a consistent answer.
What years are being audited? 2017-2018? 2018-2019? 2017-2019?
I'd appreciate any insights folks can provide regarding the ongoing audit and when the company will be current with the SEC.
Does anyone know?
