Replies to post #586 on NMC Inc. (fka NMCX)

[ndsmarket]

i dont remember the acct firms name but it was
mentioned in a post or someplace cause i remember reading it.

[MrBiz]

I believe NMC, Inc. is proper in obtaining a new auditing firm.

As per Sarbanes-Oxley SEC Rules & Regulations Section 208-3,
Scope of Services Provided by Auditors

"When an accounting firm provides bookkeeping services for an audit client, the firm may be put in the position of later auditing the accounting firm's own work. If, during an audit, an accountant must audit the bookkeeping work performed by his or her accounting firm, it is questionable that the accountant could, or that a reasonable investor would believe that the accountant could, remain objective and impartial. If the accountant found an error in the bookkeeping, the accountant could well be under pressure not to raise the issue with the client if raising the issue could jeopardize the firm's contract with the client for bookkeeping services or result in heightened litigation risk for the firm. In addition, keeping the books is a management function, which also is prohibited."

Accordingly, since Pannell Kerr Forster (PKF) were the "Accountants" NMC, Inc. would be required to retain the services of a different "Auditing" firm in order to be in compliance.

Regards,
Biz

[investorvest]

three weeks to audit? Maybe Monday. Window dressing is coming to wall street next week, for the end of the first quarter. Wonder how Churchill Mgt will look with a big loss for NMCX in the first quarter? Edgar filing indicate they hold 161,000$ worth $241,000. So they are down -33.00% from their purchase in December...noone wants to hold a subpenny stock they bought over 1 cent, especially a prominent wall street fund.

If NMCX continues falling or has a stagnant stock price for the long term, it looks dim for the stock, escpecially with the wings full of ready sellers apparently holding millions and millions of NMCX for sale. Even if audit took the PPS to 25 cents, it immediately will sell off -50 or -90% or more as has been it's modus operandi. Nobody wants to be in a sub-penny grey stock like this quoted on the pinks. Think it will end? Nope! CMKX is going another year on the greys before SEC action/nonaction...Is there hope for the stock? Don't know, but it would be a miracle. I'd be interested in the # of shareholders of record that still exist, if any. The minimum number needed for listing off the greys has long since gone away, IMHO.

At 2.1 million shares a day sold, it will take more than a week to unload 21 million shares.

Thursday's NMCX action:
Price Size Time

0.0076 390000 15:52:26*

0.0081 99900 14:16:32
0.008 100000 14:16:26
0.0081 50000 14:14:54
0.0081 50000 14:14:54
0.0081 50000 14:14:54

0.008 145000 14:07:23

0.008 500000 14:06:32
0.008 280000 14:06:32

0.0081 50000 14:06:06
0.0081 50000 14:06:04

0.0076 130001 13:10:23
0.0075 235663 13:10:22

0.0075 20000 12:42:50

0.0076 425000 12:40:07
0.0075 425000 12:40:03
_______________________
shares sold: 2,947,896