Hi Gooch,
Sorry to be so late in responding. I sent Allen Bender an email after reading your post, and he responded within 24 hours. Essentially, the problem is that for a company like TVI, one which is being quite "frugal", they must rely on the auditors. Allen did write me that his original target date for submission of document to the auditors was Feb. 15th, but was not delievered until March 2, about two weeks later. Still, he insured that TVI responded to every request from the auditor, and has encouraged him to complete the audit as quickly as possible. Again, the important point is that when one contracts with an auditor that is 1/3 the cost of the big boys, one can expect not to be on the front burner. Notwithstanding, I questioned when we might expect the annual meeting to be...and the reply was approx. the end of June...that normally the annual meeting is six weeks after the audit is complete...however, since the audit is late, Allen may ask the board to cut short the normal six weeks, in order to have the annual meeting by late June.
In summary, although we all would like to have the audit done now, I am glad that we have a company to audit, that the auditors are taking their time and not doing a rush job, and that Allen is doing his best to balance audit expense and ensuring audited numbers. That alone is worth waiting a bit longer, albeit frustrating. (imho)
Lastly, I'd just like to say, concerning the stock price, I have had a buy order in for some time for about 6 1/2 cents...and although it was for 40,000 shares, I did not have aon on the bid, so I don't think we are seeing a large decline, as not one share has executed. Course I realize we are down from months ago, but not much has changed of recent. Personally, with Allen, Chad, and the team at TVI, I would not lose sleep if I could buy more at those prices.
Anyway, again, sorry to be delayed, have been incredibly busy at work...best of luck to all of us...see you at the annual meeting?
Gordon |
