That's right. They had a problem with their auditor (he failed to file the 10-Q on time and was summarily fired), which is the reason for the "E." The company has until this Wednesday to file in order to remain on the OTCQB.
I won't lie--I'm biting my pinky nail a bit, but the most trustworthy person I know (I don't know many) assures me that it will be filed on time. For me, this is the test of how serious the company is about its acquisitions--no serious investor wants to drop serious money on a pink sheet stock.
If there's encouragement to be found, it's that the share price has held very well for a stock with no news to speak of in months and light volume. That, mixed with a relatively small float, would mean trouble for a lot of stocks. That indicates to me, at least, that those who hold significant shares are either willing to wait it out and see or are confident in what the company's doing, which is the key for me. Enough insiders (those who know the state of both acquisitions and filings) hold shares that I feel like we would have seen some selling by now if acquisition plans weren't in good shape or the 10-Q weren't going to be filed on time.
As for those plans, well, it's certainly taken longer than I hoped for, but I'm still confident, based on what the press contact is willing to say, that there's great possibility here.
As for movement, well, she's as thin as ever. The L2 remains a quick ride up, as evidenced by trading a week ago. The share price was at .26, and 10,000 shares later, it sat at .51 before slowly climbing back down (all on buys) to .32.
So we thought we'd be looking at acquisitions by now, but it hasn't happened. Par for the course. But I'm still optimistic, and the few of us on the board are optimistic. And we've all been buying here and there as we can afford. It's a drop, but it helps. For those, like us, who are nervous but still optimistic, it's a great time to buy before the 10-Q is filed, as the share price is attractive, all things considered.
Unfortunately, this isn't a promo play, which I remember your saying is what you feel comfortable with. I, for one, can't handle that sort of thing, so you have my admiration.
Also, yes, I'm passively trying to recruit you to join us. It could be a very fun ride.
AI
