Sicilian, Do you think Preston Gates is working on cleaning up the legal cases that have been brought against S3 Investment Company, Inc. and/or Securesoft Systems? The sooner S3 puts those legal proceedings behind them, the better off S3 and their shareholders will be.
IMO, when S3 failed to file their 10-K on time, they opened up a can of worms. IMO, the balance sheet was grandfathered in as long as S3 remained on the OTCBB. Now that they lost their BB status, they will have to clean up the balance sheet before the SEC will accept it for refiling.
The main problem with the balance sheet. The Marketable Securities should not be classied as a current asset. S3 also needs to add notes to their Stockholder's Equity section to explain the Preferred Stock. In all of my years as a accountant, I have never seen the common shares outstanding rounded into millions let along billions. I don't think there is an exact 2,000,000,000 shares outstanding. It may take S3 quite a while to clean up their balance sheet. IMO, S3 needs to hire a new accounting firm.
lol, That is what happens when I have too much time to think. Tomorrow we get back to the real world of stock trading.
Happy New Year to every one. Hope you all make a lot of money in the stock market. scoob
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