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04/03/12 11:48 AM

#174848 RE: Rawnoc #174846

"We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company’s internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and our report dated March 16, 2012 expressed an ADVERSE opinion thereon."


If you just ignore this bit, then your understanding would be correct. Otherwise...