Replies to post #91928 on APT MotoVox Group Inc. (MTVX)

[diannedawn]

If the product is on the shelf and selling like hotcakes (as has been said);
then there should be plenty of revenue flowing in...

Keep the product on the shelves and feed demand...business 101

Of course credit is necessary...
but some people (and businesses) fail to manage credit properly...

Troy's track record with managing credit is NOT a good one!LOL!

I really wonder if the audited fins (if we ever see them!) will show that they mis-stated their revenue?

Its obvious they were WAY OFF in their forward looking statements...(this is from May 2013)
"The Company reported revenue of $10.5M for 2012 and is forecasting $20M for 2013 and $68M for 2014."
Were they also off in other ways???

The Q said this
"for the reasons discussed below, our management has concluded that, as of March 31, 2014, our internal control over financial reporting was not effective.

Based on its evaluation, the Company's Principal Executive Officer identified a major deficiency that existed in the design or operation of our internal control over financial reporting that it considers to be a “material weakness”. The Public Company Accounting Oversight Board has defined a material weakness as a “significant deficiency or combination of significant deficiencies that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected.”

The deficiency in our internal control is related to a lack of segregation of duties due to our limited in-house finance and accounting resources."

looks like they are laying the ground work to say "Ooopps! We were wrong...here are the real numbers"

Time will tell...the truth always comes out eventually!