Do you still think the audit will be out tomorrow?

[Mountainbiker]

The sentiment regarding the announcement of IC's report is pretty BEARISH here. It is actually good for the SP when we get the UNEXPECTED!!

[TrueValueSeeker]

When PWC signed of 20F for the year 2013, independent auditing should be really close to PWC result.
Watch for 20F filing if indepent auditing does not come out early.

[elvis00]

If management didn't expect the audit to be complete why postpone the ER announcement? Wouldn't that be counterproductive considering the position MW has put them in? IR even went as far as confirming ER date would be released soon to prevent rumours from spreading. Why go through all the trouble?

Or it just took that long?

[js253]

If management didn't expect the audit to be complete why postpone the ER announcement? Wouldn't that be counterproductive considering the position MW has put them in? IR even went as far as confirming ER date would be released soon to prevent rumours from spreading. Why go through all the trouble? Or it just took that long?

good point. That's the question i've been asking myself and mgmt. will have to address if audit isn't released. Surely, they had the quarterly #s in March if not Feb. Mgmt. decided to wait for "something" and as recent as 3/25, they didn't have that "something" ready, but on 4/3, they had an idea that it'd be rdy by tomorrow. Well, we'll find out in 29 hours.

[kshen]

I think the mentality is that the postponement is due to Independent audit (plus Toro and Wedge etc...). We have to analyze and see if that is actually the case.

On the flip side. I don't think they would announce reports until PwC is okay with their numbers. That might be what was holding up the reporting.

I severely doubt they would report without PwC's approval. (Possible but it would be disastrous.)

[elvis00]

I think the mentality is that the postponement is due to Independent audit (plus Toro and Wedge etc...). We have to analyze and see if that is actually the case.

On the flip side. I don't think they would announce reports until PwC is okay with their numbers. That might be what was holding up the reporting.

I severely doubt they would report without PwC's approval. (Possible but it would be disastrous.)

I share the same thoughts but I'm leaning towards IA being complete. I was aware the mentality had been that back in march but as time went by it appears some psychological damage has been done. You can see it in the SP and the shareholders sentiment on these forums. Its only been 2 weeks. Nothing has changed but fear settled in. I for one am excited for Thursdays release.

[quantumvibes]

I'm confident that the IA results will be announced tomorrow pre-EA. It's the obvious reason for the delay in announcing 4th qtr/2013 earnings, and will prove to be the reality as it fits in with mgt's vow to put questions about NQ's books to rest. While I cant' be 100% certain, I think in this case the base scenario will turn out to be what actually unfolds.

[kshen]

Hey when did mgt vow to put questions about NQ's book to rest by earnings? The blog post only mentions they will be focusing on fundementals during ER.

[quantumvibes]

Sorry, what I meant was that mgt has been repeating since the MW that they are intent on laying to rest all the false accusations being directed at the company, and will be taking steps, such as the IA, to do so. It is in that vein that I say I'm confident mgt put off the EA in order to combine it with the results of the independent audit. They've been executing on plan since the MW attack, so I don't really see any reason to suppose that somehow they're going to deviate from that level of consistency where the s/h's expectations are concerned. They've been focused on rebuilding confidence and I think tomorrow's EA will follow that path.

[thecrazykevy]

I think the independant audit results may come out along with earnings after hours. But I don't think it would happen premarket since most companies adhere to a quiet period policy after announcing an earnings date to until after earnings are announced.