Filing late is completely on the officers of the company. It is also now the resposibility of the SEC to see if any of their rules have been broken. None of us posting here have the same resources as the SEC to determine if there is any wrongdoing on the part of the company officers. Remember that in this country people are presumed innocent until proven guilty and we are not the judge and jury here.
Officers’ Sale of Stock
Much of the proceeds from the Officers’ sale of stock in 2010 were loaned to the Company in one form or another. Sometimes the loans are drawn up on Promissory Notes, but more often than not an Officer simply pays an expense on the Company’s behalf and submits an Expense Report for the Controller to file. Expense Reports are not reflected on a 10Q, so anyone taking a cursory glance at the situation would not be aware of just how much money the Officers’ have willingly put back into Eternal Image. JMHO
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