Replies to post #37085 on North West Oil Group, Inc. (NWOL)

[js49886]

Maybe they're setting up for s Press release extravaganza,

starting with todays news

[Lochan]

I agree, oilspec. This is a very good PR. It announces that the Company has taken a most significant step in hiring an experienced US CPA firm to audit its financial records and prepare a comparative two-year report to submit to the SEC for uplisting to a higher exchange. It is not required that a microcap company at this level engage a Big Four CPA firm to conduct the audit.

As for who wrote this PR, I would say it could not have been an accounting firm because they would never refer to a Company as an "ongoing concern". You are right that the going concern principle is assumed, unless stated otherwise in an auditor's report to show that the Company's viability is in question.

The report will include two fiscal years, beginning April 1, 2006 through March 31, 2008. It will probably be released in June, 2008. Uplisting to a higher exchange like the Nasdaq could be achieved a year from now. Given the timeline of the audit, we should be seeing consolidated financial statements as a result of the SNGF acquisition. Very impressive!

If you can buy and hold for a year or longer, you should be richly rewarded.

[STRONGUS]

You make a really good point, oilspec. The choice of words was bad and might have even spooked some pinkie traders who we know are pinheads. They meant it in a good way but it didn't come out like that. I no longer care about the traders' sentiment because it is a contrary indicator most times. Most were very bullish when we hit 7 cent range recently and it tanked. Most are bearish now so may be we will get a run:-)