Financials will be posted by 4-15-11 according to PR(which would be really fast btw,as most firms take the full allowed 45 days and longer after quarters end to post. The main thing is to get financials.
Very few penny firms have audited fin's. To say a firm can't get audited fin's because didn't have them before doesn't make sense and would preclude all firms from having audited because audited have to begin somewhere. If need be,a disclaimer can be made as to transactions preceding a specific date etc. Even when 100m rev/yr firms have audited,it's usually only the annual,not the quarterlies,so auditing is icing on the cake.
Last filed fin's was 9-30-09 quarterly showing 1.8 m loan by Bob w interest from 2006 totaling 415k. At the present general legal rate of interest,that would be ca 2.5M owed Bob,not 3M.
"By consent"-I wouldn't read too much into this. The people writing the PR's are not lawyers and the PR'S are not legal filings. They have used generic language many times so doesn't mean they didn't assemble.
And doesn't matter if they didn't assemble. Many lawyers sign legal docs and even court orders by telephonic consent to save time even if the other attorney is a friend and is only 5 minutes away. So do many boards re board meetings.
The Nasdaq etc talk is merely a matter of interest at this time and is premature,as $5 min is required for the former(I posted requirements for Nasdaq weeks ago and was noted by another post over weekend also). As to Dax this is 30 blue chip Duetsche firms but is also used generically for the German stock market and would obviously be the sense in which CWRN was using it..
When they post they should have current info status which will bring other traders in.
Medium term they would shoot for the highest penny class-the OTCQX,which has a ten cent/share minimum and many institutional investors scout the OTCQX for undervalued gems.
