Wizetradr, it has to be made up. Who in thier right mind would lie to the SEC? Maybe the SEC won't pick up on it.
Just today an 8K came out where the new CEO stated:
During the most recent fiscal year and through September 11, 2007, neither the Company nor any one on behalf of the Company has consulted with Dohan regarding the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, or any other matters or reportable events required to be disclosed under Items 304 (a) (2) (i) and (ii) of Regulation S-K
SEC QUESTION TO KHOURY:
4. We note that you have not discussed the restatement issue with your independent auditors. Explain to us why you did not consult your auditors in connection with the restatements.
Khoury's Response:
As disclosed in the Form 8-K Current Report filed with the SEC on April 16, 2007, the Company engaged Weinberg & Company, PA (“Weinberg”) as its independent auditors for the fiscal year ended December 31, 2006. Please note that Weinberg has not been engaged to audit the Restated Reports. As a cost saving measure, management elected to engage Dohan & Co. (“Dohan”), the auditors that initially audited the Restated Reports, to re-audit the Restated Reports. Management advised Weinberg and Dohan of their corresponding roles. As such, as management did not believe it was going to engage Weinberg to re-audit the Restated Reports, it did not believe it was necessary to discuss this matter with Weinberg.
"There is no great honor these days in being a long (very long).......
Not a lot of profit either it seems."
