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Re: TownScapes post# 2744

Saturday, 02/19/2011 11:00:34 AM

Saturday, February 19, 2011 11:00:34 AM

Post# of 3474
Sorry, can't link directly but I did a search on the Pennsylvania Secretary of State website awhile back and then bought copies of available documents. You can easily do the same.

The plan of merger is on file with the secretary of state. I did this the same time I did a UCC search to see if I could find any recorded debt of the company. Only found a couple of small capital leases. One for their corporate phone system and one for what appears to me to be equipment they use to demo their product.

This supports my theory that they have never had an audit before because surely a large bank loan would have required audited financials. This in turn brought me to the conclusion that the Company had grossly underestimated the time it would take to complete the audit and required internal controls documentation as required by Sarbanes-Oxley.

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