Wednesday, February 24, 2021 11:23:33 AM
I do know this... Futuris (FTRS) hired BF Borgers, one of the top CPA / Auditing firms in the United States to provide financial audits for fiscal years ending 2019 and 2020... and filed A TOTALLY UNNECESSARY 8K with the SEC for both years... along with an amended 8K.
WHY? Have you ever paid for a financial audit by a PCAOB auditor? Do you have any idea how much money a PCAOB audit for a publicly traded company costs? We're talking REAL MONEY here... like tens of $thousands per audit.
A washed-up PINK OTC company has ZERO reason to obtain an audit of its financials for OTC compliance. ZERO reason.
This fact fascinates me. The ONLY reason a washed-up PINK OTC company would have for obtaining extremely expensive PCAOB financial audits is if the company is preparing for filing a registration to become a FULLY-REPORTING public company... at minimum up-listing to a higher tier on OTC... or perhaps preparing for NASDAQ as they have claimed? We're talking $4 per share minimum at that point.
If anyone can think of another reason for a LIMITED INFORMATION PINK OTC company obtaining PCAOB audits for two fiscal years, please enlighten me.
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