Well, let me help you out. The fully reporting penny stock I am most familiar with, spends about $120,000.00/yr on Qs and Ks. Obviously since they have always filed on time, they do no have the added expense of a forensic audit.
In June, GDHI will have 3 full years of Qs and Ks ... just to be current as GDHI. At $120,000.00/yr, that's $360,000.00, plus whatever extra cost is involved in the forensic audit. Your guess is as good as mine, but I'm thinking 25% - 50%. Then, the books have to be forensically reconciled to the predecessors company's (Diamond Powesports) last filing which was sometime in 2006. Don't have any idea what that would cost as I do not know of anyone that has been able to actually do that successfully. Mainly because most of these companies that become RM candidates are horrible messes to begin with and any books they kept are sloppy, to say the least.
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