Any attorney out there able to answer the quetion as to whether IPO's under $100M and falling fast are exempt from Sarbox compliance?
I would think that a founder, CEO, acting CFO is a real risk of incompatible functions ... I so not remember seeing tha risk factor in the S-1 when they came around peddling their snake oil. At least Mr. Demopolus does not also hold the audit commitee chirman seat on the Board, but how often does the board know the specifics of what's happening with the checkbook (SARBOX), and more importantly,the management decision-making meetings.
A company issueng stock to the public without an independent CFO, not sure if it has ever happened ... Where's DucheBank, Comapny's SEC ounsel, and Burnt & Yung, our "independent" CPA'sgiving us their opinion for reliance theron?
At a minimum this combination of jobs in one person should have been disclosed in wrinting as a risk factor.
Disappointed to buy on Day one and read S-1 (little help)later. Now dangerously close to losing my accredited investor title. Remind me to never,ever invest in a Snake Oil IPO again.