it’s not even required to release unaudited figures let alone audited numbers so why would they? Is it because they want to upgrade to an exchange, increase faith, or some other ulterior motive? I own shares of a company thats wants this, so can i ascertain that this company is no scam and is very honest to go above and beyond?
#1 by raysor on February 6, 2010 - 15:04
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As you know Pink sheet companies are unqouted or private companies. It is best never to have a minority shareholding in a private company. Unless it turns out to be Google etc.
If you like acompany on PinkSheets why not wait until it moves up to NASDAQ, or AIM even. As they say it is better to pay a bit more to know a bit more.
Have you been to see the company? You will always be welcome if they are a genuine company.
#2 by Amber S on February 6, 2010 - 15:30
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They may want the audit so they can be listed on an exchange in the future. If they have any debt, having an annual audit is sometimes required to meet the debt covenants. Some companies get audits for historical purposes- especially if they are looking to be acquired by another company.
Given the information you’ve given here, I would say they either want to move up to an exchange or be bought.