Re: The audit
RM last summer was trying to put together an accounting system.
The two women seen in the video were buried in paper trying to implement an accounting system and a system to monitor leases and lease costs. He kept promising an audit but ran out of money, see the financials at 9/30/06. $200 with accounts payable of 1 million will not entice auditors to come in and do their work. An audit could not be even considered until they sold off the Caddo Lake property and had cash available to pay an upfront charge to the Auditors, so we are looking at a mid December date for considering bringing in audit personnel. The audit companies busiest time of the year is after the calendar year-end. They would be budgeting time for existing clients and for tax work. BDGR would be a new client and would probably go on the back burner or low priority for time budgeting. I might also mention that the auditors will go to Oil City or to Austin for the bulk of their work. BDGR will not send much if any material of any significance to the auditors as most all work is done on site. They must review records of leases and other documents on site. I would look for completion after March, possibly into April or May, my guess.
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