Replies to post #150273 on Dewmar International BMC Inc (DEWM)

[DewmBoom]

Another scam news by Dewm. Where is the very very very very very old 2014 audited financials. They have been scamming investors and the SEC is taking note for suspension.

[Det_Robert_Thorne]

"Bare Minimum Marco" Moran strikes again!

With the filing of today's 8-K, Moran and DEWM again did the minimum required to avoid another "Stop Sign" on the OTCMarkets site.

The share count supplies the bare minimum of financial data, while the comments about MaloneBailey are designed to make investors things something is happening with the 2014 audit and 10-K.

Unfortunately, a "fully executed engagement letter" doesn't mean that the 10-K will be forthcoming, only that Dewmar and MaloneBailey have a contract for MB to do DEWM's audits.

MB had likely generated an engagement letter in mid-2013, when DEWM first contracted with them to be the new auditor. The text of the engagement letter was probably very similar to the following from DEWM's June 25, 2013 8-K:

On June 6, 2013 Dewmar International changed its auditing firm from McConnell & Jones, LLP to Malone Bailey, LLP of Houston, Texas for engagement of all quarterly and annual reviews and audit filings. Malone Bailey, LLP will plan and perform the audit of the financial statements to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether from (a) errors, (b) fraudulent financial reporting (c) misappropriation of assets, or (d) violations of laws or regulations that are attributable to the entity or to acts by management or employees acting on behalf of the entity. The audit will include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, tests of physical existence of inventories, and direct confirmation of certain assets and liabilities by correspondence with selected customers, creditors, and financial institutions. In connection with our audit of the financial statements, we will obtain an understanding of internal control sufficient to plan the audit and to determine the nature, timing and extent of audit procedures to be performed. At the conclusion of our audit, you agree to provide certain representations from management about the Company’s financial statements and related matters.

https://www.sec.gov/Archives/edgar/data/1269879/000139390513000322/dewm_8k.htm

Here is a primer on engagement letters:

http://www.dummies.com/business/accounting/auditing/auditing-basics-how-to-prepare-an-engagement-letter/

[2014shelby]

No audited fins?

[bobbies]

I don't think so. Time to remove this stickie. Mods?

[Penny Monster 01]

TIMMMMMMBBBBBBEEEEERRRRRRRRRRRR

[bobbies]

Why is this post stickied?

[2014shelby]

Are DEWMs wheels still spinning? If so, what direction?