I don't know about that.
Still, no thrid party auditing. On top of that, this statement:
"With all this national economic confusion, we feel that it is best not to waste any positive press until things in the market can appreciate them."
That makes no sense to me. This *IS* the time he should bring to the attention of the investor that he has no significant debts or debt instruments and he is not a big target for the possibility of a failure of a small business because of the lack of bank loans. Is he waiting until next year to say they had a big "sales" month in Sept. of 2007? This makes no logical sense people!!!
Then, he goes on to say (and I am paraphrasing) that he talked to an investment firm and "may" engage in their services in the future. He follows that with the statement that he has a consultant to decide the best "paperwork" to support either a large loan from private investors or make the stock attractive. HELLO? Is ANYBODY listening? WE are the STOCK investors!! This is NOT good news folks!!! Decide the best "paperwork"......are you kidding me???? How about the best strategy? That would be a better word. This sounds like BS to me.
There are serious fundamental flaws from his email that I don't have the time to go into.
Come on folks. He could issue a simple little statement that the company is fine. He could bring in an independant auditor.
I understand fully about our economic situation. Still, he should issue some kind of statement. To use it as an excuse to say nothing is absurd. What about the the months prior to this economic panic? He hasn't said anything since the begining of JUNE!!! He can say SOMETHING to at least hold the value of the stock. I do not think that would be a "WASTE" of good news. Next year, nobody will care about the big sales month of September 2007. People will be thingking of the months and years AHEAD of them. The good news is NOW.
