Jmach101 and others -- Your comment on the audit status in my opinion and belief is very much on point. In order for ENZC to move ahead into the "big arena", its house will have to be in order. Many more of you should be watching and commenting more on the status of the audit work and the reasons why it is not done. If you do your homework on the prior financial statement filings when the company was an SEC Registrant, you will notice that there were two forward stock splits of common stock (a 2-for-1 forward split on November 25, 2008, and a 5-for-1 forward split on March 12, 2009) and two massive reverse stock splits (a 1-for-100 reverse split on May 19, 2010, and a1-for-500 reverse split on February 7, 2013). The last reverse split of 1-for-500 shows up on the Company's "Supplemental Information Relating to Share Issuance History of ENZC Common Shares" which came out in the supplemental filing to the December 31, 2021, Financial Statements and Disclosure Statement. In this Supplemental Statement, the Transfer Agent History only goes back to April 06, 2012, and not all the way back to the effective date of the SEC Registration - September 16, 2008. You need to ask yourself why the rest of the common stock activity is not disclosed. In any event, it is very interesting to ponder the impact of the two massive reverse splits -- the overall impact on the then existing stockholders was a stagering 1-50,000 since inception!
It is also my opinion and belief that there are other common stock, ownership, and transition matters out there that the current management has yet to deal with that are causing the audit delay. Remember, Malone Bailey has to deal with the validity of the beginning balances on the books for the two years under audit. Some of those beginning balance issues perhaps could go all the way back to the inception of the Company. If there are problems with those beginning balances, then management must deal with them (not the auditors) to clean up the books so the auditors can give a "clean opinion" on the statements.
It is also my opinion and belief that management "knows" about these problems with the books and has known about them for an extended period of time, but refuses to deal with them on an expedited basis. So, the audit goes nowhere. Obviously, there has been no quick fix thus far to the audit. Malone Bailey will have to make a decision at a point in the near future as to whether or not they "ditch" ENZC because they can't get an audit done. These matters rarely go on for an extended period of time.
Some food for thought for the "longs" in the room. Makes you wonder, does it not? All of the information presented above is public record. Check it out for yourself.
