El Maniel International Inc (EMLL)

[Bansky]

As we now know the reason for the delay it should be obvious then that the Q cannot just appear immediately. In all cases a new accounting firm allows for a transition to take place based upon the reasons given in the attachment letter of the previous resigned auditing firm. From this letter we can surmise that more than just
'lack of internal controls' were the issue.

It seems that an accounting analysis of what the debt and share structure were at issue and possible disagreement between management and auditor.

In any case the new auditor would not have been hired unless they not only understood but mostly agreed with managements reasons and accounting analysis. So, I am not worried at all that the Q will be out within a reasonable time without the regulators permanently pulling the OTCBB plug on them.