Replies to post #46581 on Electronic Cigarettes International Group Ltd fka

[hawkeye612]

I had one audited financial statement done when I sold my company to a publicly traded one. Took around 60 days for everything but that included auditing inventory which was in one location. Also was a bit tricky because of tracking of l.f. on 7 ton coils of pre painted steel. Curious how ECIG is tracking their sales against inventory. Do they invoice everything as it is shipped, or do they receive their money as it is sold in the stores? Wondering because I know that it is common practice for some of the largest retailers to do business this way. Wal Mart I would think would be paying ECIG this way, unless they are doing a buddy deal.

[stayfocused]

I guess I'm failing to understand your question, not really sure why the audit time is of any interest as it's up to management as or when they releasse the 10K. How does knowing the length of audit time make any difference when managment have 90 days to deliver it (or can 'NT' it)? JMHO