"What has taken so long to audit the books wasnt like we have huge revenue?"
Agreed. Although I wonder if it would even matter? What if it showed common stock equity had already been burned through? Or that cash on the books was zippo? It would matter greatly if it were a stock on a major exchange, and would receive instant punishment from the big kids. But a grey stock, in the penny stock world where individual emotions trump fundamentals?
Is there a SEC mechanism for delisting a grey stock? Outside of the company liquidating or ceasing to exist? If you look at other members of the gang of 17, going to their websites, you'll find some that have been in no news mode for years. By SEC geological time frames, or we talking in terms of dinosaurs?
The battle for Bart now is to convince his preferred stockholders to hang in there. Where he tries to convince them he can get a decent Project Management fee out of Susanville in a short time frame. Unless he controls 51% of the preferred, in which case his stupid partners are screwed, and deserve no less for being in business with Bart.