Jim did say why a few emails back,
I think they let their regular attorney go.
they were looking for a new attorney who would actually reveiw the financials for accuracy before signing the verification papers.
Jim said he makes sure the financials are correct, as AFTC is subject to a suprise audit by the army anytime, since they get SBIR contract funds.
And he said accounting was not his strong suit and he did tend to put that off.
So, he is human like the rest of us, trying to get by with limited $ to work with and gov delays. And seems like he lets the slack go in the paperwork dept. I say that is FINE, as long as he can design great parts and get research projects. If that is the only problem this co has, it can be fixed when they get some BIG $ coming in.
I realize it hurst the pps, but HEY, I'm buying more at this price,
if you cant sell it for a profit, cost ave and make it pay...more when it does.