"2005-2006 will be a great period for Phoenix stockholders and supporters. We want to thank our stockholders, customers and suppliers for their support and we look forward to continually improving our informational releases and adding stockholders value to our company".
That was almost two months after the initial fifteen month period. So at this point, they would be working on getting these audited before May 2007, in addition to getting audits done for 2006, per the agreement. To not do this would mean losing the debt settlement.
Okay...I'd think PA would have a vested interest in getting the filings done by then.
Too bad the negotiations didn't include incentives for completing these sooner...:-)