When accounting goes unaccounted for
There's something cathartic about watching confections silently go through their manufacturing process. Or maybe it's frightening? Or frighteningly cathartic?
Clearly, these sorts of things are important to you all; hopefully it gives you some peace today.
[YouTube via r/factoryporn]
Remember last month when Koss decided to file their 10-Q without financial statements? At the time the company said it was “due to delays relating to certain previously disclosed unauthorized transactions.”
In other words, we got ripped off so bad that we’re restating financial statements for half a decade and it isn’t exactly something you can whip up like a batch of maui wowie brownies.
The Nasdaq has taken note of the slight delay and has said if you don’t get us numbers by June 30, you’ll be on the pink sheets with the likes of Lehman Brothers.
CEO Michael Koss has assured everyone that it won’t come to this but obviously we’ll have to wait until the SEC posts the filing. If that doesn’t happen, you’ll be able to add “Koss Delisted by Nasdaq” to Suz’s list of destructive accomplishments.
Koss gets warning from Nasdaq [Milwaukee Business Journal]
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