How many times will people come in here and post that financials don't mean anything unless they are audited?
THIS IS A PINKSHEET STOCK and they are not required to post any financials at all.
If you all are looking for companies that file audited financials and file with the SEC, then stay away and go look at stock OTCBB listed or above. It's SIMPLE.
The redundancy is ridiculous. Try buying the stock of a reporting company with the financials that have been released by PNMS and see how much you will pay. It sure won't be .0015.
Heck RSHN never made any statements about financial numbers and ran to a penny. There are many other examples.
There are companies that delisted from higher exchanges because of the expense of the Sarbannes-Oxley issue. AMNF is one Just checkout the financials they file and the fact that they continue to pay cash dividends quarter after Quarter.
"On March 10, 2005, the Company announced its decision to terminate its SEC registration and NASDAQ listing in favor of maintaining a public market for its common stock through quotation on the Pink Sheets Electronic Quotation Service. On May 11, 2005, the Company announced a delay in the implementation of the decision as a result of the SEC's postponement of the small issuers compliance date for Sarbanes-Oxley Section 404 internal control credit requirements. The decision to delay the termination and delisting was also based on the SEC's announcement of two initiatives that may affect the Section 404 compliance requirements for small issues. The delay has permitted the Company to assess the SEC initiatives and explore other strategic options related to its public company status. The Company now believes that it is unlikely that SEC initiatives will in the near future grant to the Company meaningful relief from the compliance requirements under Section 404 of the Sarbanes-Oxley Act and other SEC and NASDAQ imposed regulatory burdens. As a result, the board of director's decision that it is in the best interest of the Company's shareholders to terminate the Company's SEC registration, de-list from NASDAQ and implement trading of the Company's common stock on the Pink Sheets, has not changed. In addition, after exploring a few possible strategic options related to its public company status, the Company's board of directors is not currently reviewing any such initiatives. Accordingly, the Company's decision to terminate its SEC registration and de-list from NASDAQ is expected to be implemented on or about August 12, 2005. Although following deregistration the Company will no longer be required to file Forms 10-KSB, 10-QSB, 8-K and proxy statements, the Company intends to continue to have its financial statements audited and expects to make quarterly and annual financial and other information publicly available, including by posting such information on its website, www.armaninofoods.com, and on www.pinksheets.com.{/i}"
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