Replies to post #5961 on Redwood Group International (RDWD)

[The Rainmaker]

Link for new auditors website, Samuel H. Wong and Co. LLP

http://www.swongcpa.com/front/home/index

S3 Investment Company, Inc. (PINKSHEETS: SIVC), a holding company with two subsidiaries doing business in the China market, today announced that it has engaged an auditing firm to conduct audits of its subsidiary businesses in China as part of its efforts to achieve fully reporting status and reinstatement to the Over-the-Counter Bulletin Board (OTCBB) market.

Samuel H. Wong and Co. LLP, a leading certified public accounting firm with offices in the United States and Asia, has initiated work to audit S3's SINO UJE subsidiary and is expected to perform an audit of S3's Redwood Capital subsidiary as well.

[scoobey-do]

It looks like S3 is switching to a calendar year from the PR and will be fully reporting by December 2008, if everthing goes according to S3's plan. SINO must already be on a calendar year basis and it is easier for S3 to switch than it would be for SINO.

"With the completed financial reports, S3 has targeted an OTCBB application by September 2008."

Is that how everyone else sees it? How long does it normally take for an uplisting after the application has been filed?

[The Rainmaker]

Very interesting part from todays PR for me was this....

S3 recently announced that it had received a financing commitment that results in the company being fully funded for 2008. The funding covers all corporate expenses for the 2008 calendar year and would eliminate the need for any equity transactions to finance S3 operations for the year. As part of the financing terms, S3 committed to completing the audited financial reports required to file for an OTCBB listing.

The wording in todays PR sounds to me like they have already started to receive funding. It didn't say they would receive funding once they were back on the otcbb. It said they had to commit, show best efforts to become fully reporting to receive funding. I am feeling more comfortable with them saying dilution is over due to new financing.