Replies to post #108196 on Digital Brand Media and Marketing Group Inc (DBMM)

[hat12trick]

I’ll ask again… how can events that happened in 2016 affect the FYE 2015 financial results? (and by extension… in any way be an excuse for delaying the 2015 10K?) That is just their smoke screen. And, I think you are confusing discussion of subsequent events which may have occurred prior to the filing date of the 10K with the actual 2015 yearly financials. They can’t change the 2015 bottom line (FYE August 2015) by accounting for something that happened in the future (2016 Qs).

[hat12trick]

Yes the annual 10K’s are audited and the quarterly 10Q’s are not. It’s always been that way. So why didn’t they file LAST year’s 2015 10K when it was due? Why not stay current with the 2016 10Q reports? Everyone knows they are not audited which is why they would eventually file the audited 2016 10K at the end of the year.

You do realize that the 2016 Fiscal Year ends next month right? And yet they are still trying to find a way to put a positive spin on the 2015 10K??? by discussing things that happened in Q1 & Q2 of 2016. What are they trying to hide? This is not a sign of a company that is turning things around and looking to the future. If such good things have been happening in early 2016, why in the world wait to say something about it until you put out a 2015 filing that is 8 months late! None of this story makes sense.

[hat12trick]

So the story is that including debt reductions on the 2015 10K is important because Non-equity financing requires audited financials. Annual reports are audited. Since they obviously have not filed the audited 2015 10K yet… I guess that tells us that currently (end of the 3rd quarter FYE 2016) the company has definitely not received any Non-equity financing to date. Right? Due to the rigid requirements of mezzanine financing.

Non-equity financing looks at audited financials, not the Q's since they aren't audited, so including the Q1 and Q2 debt reductions in the 2015 10K is important. Mezzanine financing has much more rigid requirements and DBMM has stated numerous times the same and is working towards that end with their auditors, etc imo.