Majic Wheels Corp (MJWL)

[todd-m]

Yes, I agree that the company should produce audited statements. It is my understanding that Nasdaq requires audited financial statements.

Prior to June 2021, the Predecessor company:
• was producing some other product;
• was dark;
• was defunct;
• was not producing audited financial reports on a regular basis;
• was not producing unaudited financial reports on a regular basis; and
• did not have a verified transfer agent.

Now, in less than 365 days, management has almost completely turned around the company, has entered new lines of business, and has operations in multiple countries. I don’t think it is a deal killer nor a warning sign to give the company extra time to produce audited financial statements.

Quarter 1 for 2022 is scheduled to come out in the next week or so. In my opinion, it would be the perfect time for the company to start producing audited financial statements.

Also, ideally, I would want the company to retroactively produce audited financial statements since:
• the company completed three acquisitions with operations in multiple countries in the last year.
• the company converted preferred shares to restricted common shares at some point in the last year to meet the up-coming Nasdaq requirement.
• the last annual report indicates that the company can most likely afford to hire an audit team.

With an audit which we are still awaiting.