Replies to post #2694 on Carnegie Development Inc. (CDJM)

[sparkie812]

third quarter wow thats great they've been working on the audit for the past two years. in Dec they said 90 days so i guess we're getting closer. always forward looking nothing done!!!!

[Meyerlane621]

A Little Audit History

edoorways says:
November 3, 2010

http://edoorways.wordpress.com/2010/11/02/edoorways-international-corporation-closes-multi-million-dollar-financing-deal/#comments

Yes. We have interviewed three audit firms, including the one you personally recommended. We like the approach that the firm suggested, which involves rolling all six quarterly filings into a single filing which (they believe) could be made before the end of the year. Our estimate is that the cost of the audit will exceed $100k, with associated accounting costs in the range of $35k to $40k. From our perspective, we cannot get on the OTCBB quickly enough, as it provides distinct advantages for funding and our securities. Therefore, we are pressing forward aggressively to have the audit completed.

edoorways says:
November 8, 2010

http://edoorways.wordpress.com/2010/11/04/edoorways-international-corporation-retains-capital-solutions-to-assist-with-investor-relations/#comments

We have selected an auditor and a consulting CFO we would like to work with and are in the process of reviewing engagement letters. We plan to go full speed on the audit as soon as agreements have been ratified. The lawsuits with Koy and MItchell are in the production phase. Trial dates have not been set.

edoorways says:
November 13, 2010

http://edoorways.wordpress.com/2010/11/04/edoorways-international-corporation-retains-capital-solutions-to-assist-with-investor-relations/#comments

We have signed the engagement letter with the auditor and are awaiting the consulting agreement from the cfo. Earlier this week, they, along with management and our SEC counsel in NYC (Gersten and Savage) engaged in a phone meeting to determine the proper course of action to become current on our filings. We are very pleased with the results of our conference call. The team shares a common interest – to keep things as simple as possible and to aggressively pursue the audit. If things go as planned, we will use the remainder of 2010 to complete the audit.

##### says:
January 5, 2011

http://edoorways.wordpress.com/2011/01/04/year-end-status-update/#comments

eD are you still working on the company audit?

edoorways says:
January 5, 2011

We are still working to get it done.

edoorways says:
January 5, 2011

We have already engaged an audit firm.

#### says:
January 5, 2011

Sorry for the silly question, but what does “engaged” mean here? Yes or no, has eDoorways hired this firm? In other words, has eDoorways yet signed an agreement to pay this firm to do the company’s financial audit and get it current with the SEC?

edoorways says:
January 5, 2011

Yes

edoorways says:
February 1, 2011

http://edoorways.wordpress.com/2011/01/27/istec-unveils-major-announcement-concerning-its-global-leadership-channel/#comments

The audit will begin as soon as we pay the $50,000 (approximate) in up-front fees required by the accountant, old auditor and new auditor. We also have to have another $50,000 available to pay them a second round of fees approximately 30 days thereafter. There are other variables involved that affect the timing, making a specific date hard to predict. We are doing everything we can to move things along but it is not a linear path.

###### ##### says:
February 1, 2011

Do you believe that you will have the monies need to proceed with the audit in the near future?

edoorways says:
February 1, 2011

Yes.

##### says:
February 8, 2011


http://edoorways.wordpress.com/2011/02/07/istec-works-with-speed-to-debut-global-student-channel/#comments

Any news on the audit?

edoorways says:
February 8, 2011

We are securing funds (currently available to us) to be specifically allocated to complete the audit. As we have stated, approximately $100,000 is required. We have been getting the books in order and are ready to go as soon as the funds arrive.

#### says:
February 9, 2011

I don’t mean to sound like a smart ___, but what exactly does “securing funds (currently available to us)” mean? Are you waiting for a transfer of funds, approval of the financier, issuing shares to raise the capital? Sorry to be so dense.

edoorways says:
February 9, 2011

We have the funding committed; we’re just waiting on it.


Fast Forward to today (6 months since the first post)

eDoorways International Corporation Furthers Steps to Transparency, Preparing for Upcoming Audit and Up-Listing

http://edoorways.wordpress.com/2011/05/12/edoorways-international-corporation-furthers-steps-to-transparency-preparing-for-upcoming-audit-and-up-listing/

eDoorways International Corporation announced today that the Company has retained a Certified Public Accountant to begin preparations for the Company’s upcoming audit and up listing to a higher, over the counter exchange.