Replies to post #207737 on Bebida Beverage Company (BBDA)

[antihistamine]

About $50 K...not chump change....

[SammyTheBull]

For this size company, around $15K using a local accountant.

[OlafKjelldsen]

Do you know how much this process would cost the company? I have no idea so I figured I'd ask. Thanks!

I'm not an accountant, but I have seen estimates of up to $50K depending on the complexity of the audit. Whatever the actual cost might be, I think the real point is that the cost has come and gone many times over, spent on things that aren't nearly as important. Excuses about the cost are just that: excuses.

As far back as 2010, the company has been talking about professional preparation of the finances and went as far as naming a company and listing it on Pink Sheets, but they never hired them. Offering 2 audited quarters to shareholders were one of the qualifiers specifically given for the company even considering a reverse split, yet the split was done with no audited quarters. In 2010, rather than delivering the stated audits to shareholders the company spent over $300K on buying a race team. It's three years later and they are still blowing money on racing while the CEO has said he doesn't really see the need for audits.

Let that sink in. The CEO doesn't see any reason for the company to be accountable to shareholders, but he does see a reason for a "Strong motorsports presence."