Yes but most companies that are supposedly worth 500 million to a billion dollars and have one of a kind revolutionary formulas at the core of their business could easily afford AND would get their financials audited. I think that's what many on here are concerned about. Jared and Co. just don't reveal much other than potential agreements, contracts, and business partners. Nothing has been or can be verified by a third party. If EESO starts to become more transparent only then will it begin to be taken seriously by the rest of the investors.
Posted by: imshredin2 Date: Wednesday, April 22, 2009 10:35:00 PM
In reply to: musclehead who wrote msg# 123849 Post # of 124065
You are off base when it comes to banks loaning money to small businesses. I borrowed many times over the years for my business and the documentation was minimal. They said here's a financial statement form, fill it out. Never asked for audited information. Tax Returns, took just what my CPA had done. In another post you said EESO should have an accounting department LOL I really got a kick out of that. Most small companies use a CPA firm to do monthly and quartly reports and maybe an outside payroll firm if the have a lot of employees but a full time accounting staff yea right. The statements I see made here only serves to show me how ignorant most are as to running a business.On the subject of AR it would not be suprising for a fairly new industrial type business to "factor" some or all of their AR to manage cash flow. Do I have to explain what factoring is?
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