e.Digital Corporation (fka EDIG)

[chuck329]

Cassandra

Yes there were two material weaknesses and neither one of them has anything to do with your inference that e.Digital intentionally delayed the Nikon filing. As for using item 4 as an example, I guess you can intentionally mislead as long as you preface it with "IMO".

"there were material weaknesses in our internal control over financial reporting. The material weaknesses identified during management's assessment were (i) the lack of independent oversight by an audit committee of independent members of the Board of Directors, and (ii) ineffective controls over the period ending closing process that failed to identify a misclassification of supplier material transfers during the second and third quarter of fiscal 2008."