puppy, the timing appears idiotic from where I sit, but I sit outside the information that caused the change.
I have been told it was not demmanded by NAS or SEC. Taking that at face value, what could prompt a company to voluntarily restate financials and fire an accountant that appeared willing to rubber stamp mistakes of applying GAAP?
That leaves three reasons that I believe could ever entice the action at the time (in decreasing order of credibility) ...
a big PIPE buyer demanded it as a condition of investment
it was ill-conceived but necessary compliance with a shareholder vote
a pending event dictated it - merger, acquisition, or instituional(ised) investor.
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