Its a general statement, one by which to live by. The problem is when you look for exception to the general rule (eq. the 10K is not true) you open the door to other exceptions as well. For example, the 10K has not been filed because etc.. etc,. etc.. and before you know it, everyone is off the reservation! I feel pretty comfortable with a 10K signed off by a a big 4 firm or nationally recognized creditable firm and yes there is always risk.
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