News Focus
News Focus
Followers 16
Posts 1891
Boards Moderated 0
Alias Born 03/14/2004

Re: charlie02356 post# 43727

Friday, 10/18/2013 9:14:42 AM

Friday, October 18, 2013 9:14:42 AM

Post# of 53982
Thanks Charlie. I may call Adam because I have one additional question - unless you or Tony can chime in. Financial statements are usually generated by management which I assume that Kelly is fully capable of doing and perhaps has done already. The job of the auditor is to audit management's financial statements. So I guess it is not clear to me if Kelly is still generating financial statements (which would seem very odd) or has FASC actually engaged the auditor? If FASC has actually engaged the auditor, that suggests to me that FASC is obviously much more serious in getting the audit completed; that FASC has probably given them a down payment on fees knowing that the balance will be paid with impending cash flows and finally gives me a better sense of timing. Sorry for being long-winded.

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today