MyECheck, Inc. (fka MYEC)

[Ieatmyvegetables]

I think you are confused Upper. Nowhere in the Q&A did it mention that an audit was underway but rather that their hope/plan was to have it done. So this news tells me two things:

1. Ed Starrs wasn't blowing smoke up our asses when he answered the questions and that he is an honest CEO bringing his company back to life. To be honest I wasn't sure if there would be audited financials already due to their cost (see point 2), and there are CEO's of penny stocks who claim their going to produce audited financials and never do.

2. Having audited financials is costly and given that Ed said the company has not sought or received any financing then they are being paid for from operational revenue. Take a look at the average cost of an audit for a publicly traded company.

http://www.financialexecutives.org/KenticoCMS/News---Publications/Press-Room/2013-press-releases/FEI-Audit-Fee-Survey--Public-Private-Company-Audit.aspx#axzz2v9NTfHUG

So why downplay this news (Yelp really?)? Just enjoy the news in all it's glory.