Replies to post #51413 on Sunergy, Inc. (fka SNEY)

[mikeymgd]

True but they did get a small amount in cash and the rest in stock.

We really don't know the current warrant picture to know if the Allied warrants expired or were refiled to a later date.

Even if they had waited the audit would have been held up. The tax code is only one part of the big problem. Allied had its assets and payables merged into SNEY. This by law requires an audit against Allied's books. The only true way to avoid it was to wait a couple of years prior to becoming current. They would have then exceeded the threshold for audits on the company prior to acquisition. Another way would have been to not buy Allied at all and only buy the concessions but I have a feeling Bryan was not going to allow that.

I am not a CPA or tax attorney so I could be wrong but I think it really isn't an issue. I really doubt waiting until the tax year ended would have had an impact on the delays in the 10K.