We all know that $10 million is the threashhold for reporting, however, I wonder if a company has several quarters to get the necessary audit together. While a company can anticipate reaching the $10 million figure, audits cannot be put together overnight.
As for the Real Estate, as I remember it the information said that Hybrid was located in a wholly owned building. Like many people, I own my home, but I have a mortgage, I don't know if legally I can say I wholly own my house. The point is, if Hybrid has a substantial mortgage the equity in real estate may not be very great.
I understand Fayiz owns the building that CTKH is located in, but again, I don't know if he has a mortgage or not. I suppose it isn't critical as the building's not owned by CTKH per se, however, it should be very clear in the audit as to how Fayiz is compensated by CTKH for use of the building.
If all that Fayiz has said about quarterly growth is true, if we aren't at the $10 million mark yet we must be getting close. Again, how long do we get to report once we've reached the $10 million mark?
Gary
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