Nic, just got back.
Audited financials are due sometime in Q1 2011. I was told this by IR, and verified by e-mail last week. This is on track but don't be surprised if it drags into April.
TIVU is an OTC Pink sheets, current information, listed company. They do not have to provide Audited financials if they do not want to. They will as an OTC.QB have to file with the SEC annual audited financials as a condition to be listed as such. This is the stated goal of the company, to complete a three year audit, file with SEC, then uplist to OTC.QB. This trading venue has more stringent requirements and thus is construed as more transparent.
The audited financials should give us a fully diluted, issued and outstanding share count as of 12/31/10. There will still be the possibility that additional dilutive issues have occured since then.
Even with Audit, there is no way to establish exact quantity of shares derived from convertible notes because of the sliding conversion rate. This is why they have hypothetical dilutive effects at various conversion rates.
Even if we get a more accurate count of potentialy dilutive shares no one, not you, not me, not the company and not the SEC can tell the convertible noteholders exactly when to convert and when to sell. This is the gray area no matter audited financials or not. It is at their discretion within the terms of the notes.
TIVU is currently not 'black and white', they are trying to become more transparent through audit and uplisting. Until it happens it is what it is, TIVU is still a Pinkie. You may have heard the moniker 'Stinkie Pinkie', today reflects the effects of being such an issue. It is still a Pinkie and is driven more by MOMO and speculation, rather than transparency and inherent value.
BTW, TIVU at .02, MCAP is 1.6 mil at 53 mil O/S. IMHO, this is an absurdly low market capitalization for a company who just got an opportunity of a lifetime with HSE and is primed to make major inroads in the coming year. Just blows my mind, ridiculous. Short term, who knows but I'm adding, long term, I like it.
All IMHO.
D
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