Radioio Inc (RAIO)

[suds1460]

They have to have cash to do that.

They have none and can raise none at the moment.

The only reason they had the cash on hand at December 2011 is because Bean loaned the company $12,000. I would be willing to bet most if not all of that went to pay the accountant for the audit and compiling the 10-K.

That is why the 10-Q is late. They have no money and Bean is either unwilling or unable at the moment to put in the $$$ needed to get it done. IWDM is most likely on a COD or prepay basis with the accountant. He/she/they are not going to be willing to do any work they don't feel confident they will get paid for. All IWDM has right now to pay vendors is shares of stock and the accountant is not permitted to own stock in the companies they audit much less take it as compensation for work done. Creates a HUGE conflict of interest.