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Re: Running Wild post# 25068

Wednesday, 03/16/2022 11:44:02 AM

Wednesday, March 16, 2022 11:44:02 AM

Post# of 32130
Running, cool your jets. I own this stock...and a lot. That said, I am not bashing. Even though they are credentialed, they are still an "outside" entity. BTW, I used "appear to have all the credentials", not to imply they were not legit, but because I have not seen their credentials - they have a webpage, but so do millions of others...unless YOU know for a fact that something is legit, try not to jump on the "I know" bus...me, unless I have personally seen proof of something, I will always use "appear" in that same context...again, not to bash, but as a CYA just in case the proof is not legit. Think about all the PINK companies that have websites and "say stuff" and then it turns out they were not legit...this is my reason for "appear" because I have not proven the legitimacy personally.

I mentioned that I work with Indian firms, and while they are good, the proverbial "you get what you pay for" applies here. The folks at the company are highly degreed, and India pumps out very smart people, but even though the companies I work with are quite smart, they are viewed (not by me but) by others in the U.S. as "not U.S." or (not US by the more ignorant) and are put through a more stringent examination when they provide data. I have a high respect for the people of India, their culture, and the pride they take - sadly, that is not a prevailing thought in the U.S.. I travel extensively to China (not since Covid though), throughout Europe and been to Saudi (Jeddah). Not bragging, but I know how people here in the U.S. view "outsiders", and if you were listening during the prior President's term, you would've heard that.

All said, I do believe (even though they are credentialed) that they will be examined more thoroughly (unrightly so) because of their offshore status.

And if you read my post, I listed Mazars as a U.S. entity with issues too. There are LOTS of U.S. entities that handle audits for International companies...logically, the only reason to use India (again, my opinion) is that they are 1/3 - 1/4 the cost of the same talent in the U.S.. Because of the business I am in, I see the cost differentials between U.S. and other Countries like China, India, etc., and I know why they are used: COST. I can get an Injection molding tool or Die-Cast tool for a part made in China for (as an example) $5K whereas that same tool would cost me $30K in the U.S...labor in China & India is the cheapest portion of the equation.

Try to not insult others when they present either queries or concerns...and unless you have International experience, please defer to those who do.



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