Bergamo Acquisition Corp. (BGMO)

[old man river]

In most public company audits, you have the previous audited statements and working papers as a compehensive and validated guide. BGMO does not have a validated starting point. In fact, the previous internally generated statements could not past muster with any of the big accounting firms for objectivity.

Any auditor worth his or her salt would need to construct an opening balance sheet based on verified third party statements. Once that is done, then the ins and outs for the reporting period can be reviewed. There is not likely much issue with the overhead expenses. The biggest area for an auditors work will be the collection of verified data from third parties many of whom operate outside of the United States.

The notes section should be massive for our solar power company. Explicit detail would be needed to deal with share issuances, debt covenants and so forth. We should not forget the lawsuits either.

Based on what my knowledgable friends and family tell me, look at four months from the end of the fiscal year due to the amount of work involved. That should make it about the end of May. Also, it being tax time does not help either.