Replies to post #163709 on Enzolytics Inc (ENZC)

[Valuator2]

Foxi, I understand the frustration, but I have 2 problems with the Stocktwit post, some of which has been implied here by other posters in the past. Facts matter.

....can't complete an audit and want to blame it on every auditing firm in the world instead of what the truth is, continuing lies and misconceptions, nobody trusts this anymore...

From what I read in the ENZC disclosures:

(1) There have only been 2 auditors: (a) M&B, who was terminated for undisclosed reasons but who apparently failed to finish the audit after up to 2 years on the job. However, those years were also hindered by COVID shutdowns, which likely played a big part in the delay. (b) The current auditor is the Gries' CPA firm.
The other two accountants associated with ENZC were not hired as auditors. Steven Heumann of Eisner and Amper was hired as a Consulting Accountant (page 23) https://www.otcmarkets.com/otcapi/company/financial-report/346487/content and he showed up in ENZC releases last year after ENZC revealed M&B auditors wanted to change the accounting method for the 2020 merger. Is this why he was hired? I don't know.

The other accountant is Jona Barnes, who apparently has been preparing the old ENZC's Disclosure Statements since before the 2020 merger and has continued through at least the June 30, 2022 quarter (pages 5 and 23). I assume she also prepared the June 30, 2022 Unaudited Financial Statements as well b/c there is no opinion letter attached, so that implies that these Statements were prepared by ENZC internally (again, presumably by her on a contract basis with the company). Remember Dr. Harry Z is listed as ENZC's CFO.

(2) The completion of the audit has nothing to do with

pushed back milestones

, which the stocktwit poster claims are

continuing lies and misconceptions

. The audit will express an opinion on the results of operations that actually happened during the reporting period(s) and their beginning and ending Balance sheets. Coulda and shoulda don't count.