Replies to post #101652 on Amfil Technologies Inc (FUNN)

[Aggie14]

Thx. for your reply. I’m good. Glad to hear your busy! ;) Best of luck to you! Congrats!

[Felo31]

It really is a great thing that he owned up to that mistake. That letter was the right thing to do.

I get the feeling that once the audits are done, we will be seeing a lot more from him on Twitter. I was just rereading his tweets, and those auditors really made him look bad :(

Good thing he corrected his mistake :)

[Plowmaster]

On the last 1% of the Audit:

My guess is the entirety of the workflow was not communicated well from the Auditor. Let's say there are 10 steps. Step one find and engage auditor, takes 2 months, step two, Auditor creates lists of needs, planning, 2 months, Step 3 etc.... At some point was step 7: Finish data audit of AMFE, 4 Months, and THAT step was 99% complete, however there is still Steps 8, 9, 10: Reconcile all data / complete form package and format/ send to regulatory bodies / receive back questions / answer, resubmit, re-receive/ final sign off, edgarization - Send for Upload!

I am by no means a financial auditor, but I do have a lot of experience with auditing to regulatory standard etc. So some steps take longer than others and some are quite variable.

If I was going to postulate anything, this would be my guess as to what happened. 99% of a work step was complete (a big step for sure) but a miscommunication / misunderstanding on there are still a few to go after this major step is completed.

$$$$ AMFE $$$$