That is a good point.
Seems like stall tactics, then. Yes, it is difficult to get the merger fins completed and the 10k closed out, but, 9 months of effort and 2 months of review? really? I have cut them some slack over the year given the complexity, but now, I think they are strategizing the release of the fins. Seems they are waiting for some tangential event/renouncement/PR that is gating the release. The easy answer posed on this board has been "They are afraid to publish bad news". Although that is possible, it is highly unlikely. Bad news is typically published quickly and quietly while "new strategy" PRs are touted as their next move. Businesses success is judged on your most recent quarter. It is best to get the "bad news" behind you as soon as possible and the corrective actions in place ASAP. No, I don't think "bad news" is holding up the fins. The question really is how "good" is the news and who is it good for? Possible scenarios:
(1) JV/Buyout - Potential partners would want to scrutinize the financials as they are the "buyer" and what ever is in the fins will reflect in their financial statements. Secondly, the solidness of our books will help to establish confidence in our operation of said partnership
(2) Once they are current, insiders' holding period begins. So, they want to be sure that all fins and docs are ready so that any run up will last the duration of the holding period.
(3) Security in SL in not up to snuff to handle the amount of gold SNEY is finding and needs time to streamline operations before the production numbers go public.
Any others?
