Ok, for those of you who have never worked for a public company...
(disclaimer - from personal experience...not legal or financial advice)
1. Audits take months to complete. The Canadian public company I used to be a part of got audits done yearly. Those audits took 2-3 months to complete. If Ariel Way has several years to file, the audit could take 6 months or more. Being there are multiple divisions worth of financials for accountants to pour through, it will take a lot longer than anybody wants it to. It is not up to Arne when they are released. Auditors are never in a hurry as it is their behind on the line if they don't do it properly and according to stock market guidelines.
2. Public companies are all about disclosure. It's like having to stand in the street with your pants down around your ankles for the whole world to see. If taking a walk down the street will somehow potentially affect your stock price, you have to disclose it regardless of whether you do take that walk or not. Arne has to disclose the proceedings with GovBuys as it will (and has) affected the stock price.
3. Because of disclosure rules, the company does not (and cannot) give you all a play by play of the daily activities. Arne cannot discuss anything that is not public knowledge (released in a press release or sec filing) except to people within the company (employees, directors, etc.). If he does and it causes a major change in the share price, he'll end up like Martha Stewart and become someone's prision buddy. For all those out there disappointed in chat not disclosing more....don't be.
4. Not that I want to give any fuel to bashers, if Arne was not fulfilling the terms of the agreement, the only way we will find out is by sec filing or press release. Again, the intimate details of operations are not shared with the public. Public companies only disclose what they have to.
I am a shareholder. I will buy more as I see fit and I will sell when the time is right. All I hope is this will provide you with the background you need to make an informed decision whether you are a shareholder, someone who wants to be, or someone who has nothing better to do with their time an spout crap they think will help their cause. We are all here for one purpose...to put some money in our jeans.
GLTA
