Mexus Gold US (MXSG)

[1manband]

The SEC and PCAOB regulations do not require a regular 10-Q to be audited (there are some unusual exceptions, but they do not apply to Mexus). However, even though they are unaudited, the regulations do require the 10-Q and the financial statements contained within to be reviewed by the Company's auditor. It isn't as detailed as a audit, but does involve the auditor confirming the figures in the statements match what is in the Company's records, and that the presentation conforms to US GAAP and is consistent with the presentation given in prior filings.

So yes, that is definitely a reason why Mexus is often late with their filings. The review can take several days, but the more poorly kept the records are, the longer the review takes.