Replies to post #41263 on Cann American Corp (CNNA)

[drugmanrx]

"According to the SEC’s order, for 369 BF Borgers clients whose public filings from January 2021 through June 2023 incorporated BF Borgers’s audit reports and reviews, at least 75% of the filings incorporated audit reports and/or reviews by BF Borgers that did not comply with PCAOB standards."

So they pulled it b/c of Borgers in August '23, did nothing in the interm, and told us nine months later "hey, we just found out it was b/c of Borgers?"

So you don't think Finra was notified by the SEC that BF Borger's auditors had issues and to double check that they met PCAOB standards. Found out that CNNA audit fell short of PCAOB standards and had to be reworked but DID NOT disclose to CNNA at the time BF Borger's was under an active investigation since I believe would be standard procedure.

Form NW
"The Company is in the process of revising its registration statement and accompanying financial statements to adequately address certain comments received by the Company from the SEC. Accordingly, the Company respectfully requests that the SEC consent to the withdrawal of the Company’s registration statement on Form 10 as soon as practicable. No securities were sold in connection with the offering."

My guess is CNNA pulled the Form 10 because of the work done by the auditor was not acceptable by the SEC not knowing that their well used auditor was under investigation, still worked with BF Borders to fix the issues then later found out the SEC shut down BF Borgers.