"TYPOS" statement from CEO is incredulous!? Our CEO just posted this ... "The quarterly report had some typos in it and they are being changed"! How can a public company say they had TYPOS in their finanical filings when it comes to stating a corporate structural change...? The CEO and CFO signed the most recent quartely filing, certifying that they reviewed and approved all financial information!
I think all of us shareholders would have a trust issue with a CEO making this kind of unbelievable statement! I fear it could turn into more of a misrepresentation of facts and numbers. The TYPO may have been a mistake if just in his quartly discussion he said "September" when he meant "October", which really isnt a "typo". Especially when all of the accompanying financial statements supposedly reflected the structural change as of September 1, 2008 [the Profit and Loss Statement and Statement of Cash Flow all state a date of "Sept-Dec 31, 2008]! financial professionals do not make those kind of TYPOs throughout their financial statement filings. This kind of statement from a CEO makes me think of walking into your kitchen and catching your child with his hand in the Cookie Jar, and he says "I was just counting the cookies to make sure they were all there".
A CEO and CFO of a public company should not assume shareholders will just believe that he can just say a TYPO was made on their publically filed quarterly financial statements and all is OK, without any questions and then just accept that it was changed back correctly.
I think that all shareholders should be concerned about this type of statement and our concerns should be filed with The Pink Sheets and the SEC. These types of filings and statements should be reviewed by a regulatory body, because since this all of a sudden, announced corporate structural change and name change, was to ferret out naked short sellers, it looks like from the quarterly filing, it was to sell assets of the company and functions of the company while still not reporting any losses or asset value in the accompanying financials to back up his discussion of the transaction in the same filing, but saying there were substantial losses, when just the quarter before, the CEO said our company RBRM was "recession proof" and sales were great with no hint of any losses whatsover, in the 2008 3rd quarter filings.
Last thing, the financial filing says the CEO and CFO certify:
1. "I have reviewed the financial and disclosure statements..."
2. "Based on my knowledge this disclosure does not contain any untrue statement or any untrue fact or omit to state a material fact necessary to make the statements made in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this disclosure statement."
3. "Based on my knowledge the financial statements and other financial information included or incorporated by reference in this disclosure statement, fairly present in all material respects, the financial condition, results of operations and cash flows of the issuer, as of and for the periods stated in this disclosure statement.
THE CEO AND CFO CERTIFIED THAT THE PERIODS OR SEPT - DEC 31, 2008 IN THEIR DISCLOSURE STATEMENT AND THE FINANCIAL STATEMENTS WERE CORRECT! How can that now be a TYPO in all of those places and he can just say it was a TYPO and change it?! SOMETHING FISHY IS GOING ON HERE.
