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Thursday, January 06, 2005 3:24:25 PM
I think what we are all doing is waiting for these promised audits for the answers we want. I just hope that the 2003 audit is nothing like the 2002 audit that contained a disclaimer from the auditor. In that statement there was reference to the fact that 90% of the revenue came from Bangladesh and that the auditor used figures that were supplied to them.
I still cannot see Matin allowing an U.S. auditor access to Bangladesh. I wonder what the auditor can have access to if we do not "wholly own" the mill. I feel that the 2003 audit will be worthless as regards verifiable information and I hope that the 2004 audit is better. If we only "wholly owned" the Mill then I would feel more comfortable in this regard.
I've got to say that if you are a day trader this stock is providing some pretty good opportunities for short term gains.
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