I highly doubt that the estate would have contacted the SEC and put up red flags---particularly since they would have nothing to gain over it. You have to figure out IF The red flag was NOTHING and the cash was there, Who and WHY would be motivated to do so. That is the puzzlement.
At some point in time that information will be apparent, but in the meantime, EGMI has to over the balance of the month resolve some pretty basic issues,
a. Reinstate the Financials by resolving with the CPAs the cash confirmation
b. Announce a new CFO.
b. Complete Financials for 4th qtr 2009 and total year. Have them audited and certified.
c. Hold a CC, get out a Proxy to setup an annual meeting in April/May timeframe.
d. Vote in at annual meeting, new filled out board, replace CEO with someone stockholders will have more confidence in as I believe Kevin is ineffective.
e. Confirm Guidance for 2010
All pretty basic stuff for a going concern with postive cash flow and a working business model.
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