Here ya go, here is some DD for you. You must of missed it, but here it is for you again.. Taking Nphc to the wire? 4 months off? Really? 4 months is not taking it to the wire. Lol geez
Rik said this directly, I trust him over an opinion.
I will commit that we will definitely be current long before there are any issues with delinquency and the September deadline. On our current trajectory, we're looking at late June or maybe early July.
2 latest updates from Rik to Sam and myself..
Well, this is Rik‘s response to me asking him about the MS trials and the government grant.
He responded to me in 10 minutes. So he must like me more! Haha. wink
First: we're still working with DTRA for the nerve agent protection grant. It's a long process, but we should have an answer over the summer.
The planned MS trials are moving forward. They are NOT contingent on anything having to do with the SEC lawsuit. We should be able to announce specifics in the next few months.
I hope that this is helpful. Have a great holiday weekend,
Rik
Riks reply to getting current and Sec.
The last few filings were 10-Qs; which are quarterly reports that are "reviewed" but not "audited". These were much easier and faster. We are now working on the 2019 10K; which is an annual report that is fully audited. It is our goal to get that out next week, but we are at the mercy of our auditors and we cannot dictate their schedules. The good news about all of this is that our current auditors (Rotenberg Meril) took over our account in the 3Q2018. This means that for all previous financials, they were comparing past quarters and years against a different auditor's work product. Now that we've gotten to the 3Q2019 and beyond, all of their comparisons are against their own files. This helps to speed the process along and we should see some faster work. We cannot make any promises about when we will finally get current, but at the rate we're going now - it shouldn't be too much longer. I will commit that we will definitely be current long before there are any issues with delinquency and the September deadline. On our current trajectory, we're looking at late June or maybe early July. I'll provide updates as I can.
As for the SEC lawsuit: we've been very clear that we believe that the SEC case is full of factual misrepresentations and this has already resulted in a partial dismissal. The SEC has filed a Motion for Summary Judgment for some of the claims in the case. We are fighting that Motion and are now waiting for the judge to decide. Regardless of the outcome, we will continue to defend ourselves against this suit and expect to either result in a reasonable settlement for the Company or a positive outcome in court if this goes to trial.
I hope that this information is helpful,
Rik
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