I would be really surprised if the late filings are because they are "hiding" something. I'm thinking it has been like 4 months and it is a little too long to be a simple accounting problem or switch in accountants. My best guess is he has shot his mouth off too much about India and doesn't want to disclose a lack of funds beyond 1/2 mil. Considering the history I'd be surprised if there was a legit excuse not to file.