Responses to Q & A (part 1)
I started working on this yesterday. There is too much here to fit in just one post. I will have to break it up!
"POSSIBLY"
I will first start off my reply with discussion of the typical EXMC/legal slant, POSSIBLY. If you look at most of these "answers" they preface ANY date with the word "possibly". How much more weak can you be with your answers EMXC?
Here is a scenario, let's say it's February 2011, and the financials are still not audited. The enraged shareholder gets on the phone and calls EMXC, "Where are the audited financials? I thought you said 4 weeks to 4 months back in September. Where are they?". Of course EMXC's response is, "Oh, we only said PROBABLY 4 months max, it's taking longer, sorry."
For all of these answers with "possible" in them, my follow up would be to ask if double the maximum would be "possible". In other words if they say it's possibly going to take 4 weeks to 4 months, I would ask, "well could it 'possibly' take 8 months?
I will bold face the word "possibly" in every EXMC response.
Question 1 what is the official number of shares in the float? 381,716,824
First, this was not my question, but now reading it I see the REAL question that should have been asked is what is the outstanding shares count in EMXC! Who cares what the float is if they issued more shares to insiders? Those wouldn't be considered float. So my full follow up question would be as of Sept 1 2010, what is EXMC's outstanding share count?
Question 2 when will we see audited financials ? Possibly 4 weeks – 4 months depending on the availability of the staff of the company auditors
Wow!! How's that for a range! In April we were told they the auditors were ALREADY reviewing the figures, and NOW 5 months later we are told 4 weeks to 4 months MORE? 9 MONTHS to do an audit? And that's only "possibly"?
Question 3 and 7 (same question)
7) Give us a deadline when the company will pay these dividends. A deadline is a date, as in November 1, NOT "soon" or "very soon". On April 1, regarding the dividends, the company said they were "preparing to mail to the shareholders in the next few weeks". It is now 4 months since then. Why hasn't there been a PR on the status of this as "few weeks" have turned into a more than a few MONTHS?
90 days- 6 months possibly depending on availability of time availability of FINRA And the SEC officers to help with the name change corporate action event and their review of these previous corporate actions.
Putting the blame on FINRA and the SEC availability? PLEASE! You put out a press release saying its going to happen in WEEKS, which was YEARS after the dividends were declared, and NOW you want to blame it on agency's schedules? So when you said the dividends were "weeks" away, you hadn't even contacted the agencies yet? Sorry, this needs a LOT more explanation.
Note part of the question was not even addressed. It was asked "Why hasn't there been a PR on the status of this as "few weeks" have turned into a more than a few MONTHS?" That was not addressed in the response.
continued....
