Replies to post #5437 on INSTATRADER'S LONG TERM OTC WINNERS!!!!

[MoneyForNuthin]

RXMD Well that's the danger with company insiders talking to shareholders informally. There's always going to be a certain amount of miscommunication.

Quarterly reports simply are NOT audited. Period. (same thing for big board stocks - take a look at this quarterly from Party City, for example: https://www.sec.gov/ix?doc=/Archives/edgar/data/1592058/000156459021026026/prty-10q_20210331.htm)

HOWEVER - in my experience with CEOs and other company insiders that are NOT very technical CFO types, they routinely talk about all of their reports Qs as well as Ks and refer to ALL financial reports as "audited." The reason for this is that they go through essentially the same process as the audited Annual Reports. The back-and-forth between the company and the independent accountant - the same one that stamps the Annual Report "audited" - is very similar from the company's perspective, whether a Q (quarterly, unaudited) or a K (annual, audited).

For MOST (not ALL) intents and purposes, they ARE audited, as they are reviewed and essentially controlled by the same AUDITING independent accountant that stamps their "AUDITED" certification on the 10-K Annual Report.