Phoenix the Corporation has acquired many companies in the last few months. They must have 18 or so divisions at this point. Each one would have to be audited a minimum of two years just to be current. It is a very tough regulatory environment these days. It is a monumental task to bring all these companies up to date. The following is an interesting story on how tough it is to be a CFO in this day and age.
The company also recognizes that it is harder to acquire companies when your full reporting as opposed to a pink sheeted company. It is my impression after speaking with the company that their goal is to continue to acquire companies if the right opportunities present themselves. While staying on the pink sheeted marketplace it is much easier to do so. When the time is right is when they will go fully reporting, at that time will look to hopefully go on to a better exchange than the over the counter. They've hired a very smart SEC attorney which has helped them move forward in a very positive manner. The management of this company knows exactly what they are doing. They are by far the larger shareholder's and have a controlling interest in the company. They want to see the stock price go up more than anyone, but at this point that is not their primary concern. It's about building a company. If they take care of that aspect of the business, they know the share price will eventually follow.
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