Wednesday, June 15, 2011 8:47:59 AM
... it shows improvement over last year's 1st qtr numbers.
I think the company is on track to it's first profitable year.
You can argue about their accounting practices but these
documents are legal documents submitted for public review.
Are they independently audited? No not at this point.
I imagine the company is concentrating on putting capital
where it should be used to fund the business.
Here at our company we have an independent audit done every
year to the tune of $20,000 every year. Just so they can tell
us we are doing things right. Actually it is a requirement since
our firm bids on federal and state projects.
I would say SGC is not ready for an independent audit routine
yet. It would be a good thing to put in place once they can
afford it. IMO
They are meeting their filing obligations.
GLTA
All that I post is just my opinion and remember ...
Stay thirsty my friends!
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