10-K has to be filed before the 10-Q. I'll bet you $1 Romandetti was stealing money from the company, and the delay is for forensic accounting. Probably not anything major, but the nature of his departure probably had the auditors taking a second look over everything.
Either that or they're going to need to take a write-off on accounts receivable for bad debts. Seems like a few other companies in the industry have been having issues with that.
Either way, they need to let investors know what the hold up is. They said at the beginning of April the 10-K would be filed within 2 weeks...that was 6 weeks ago.
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