We have struggled with finding a balance between "updating shareholders" and the prospect of inadvertently "self-sabotaging" the process. We have also been told that telling shareholders in advance of a specific filing date could appear manipulative - and that this very act could impede the S.E.C. approval of our Form 10 registration.
Even so, it's always dicey to try to predict the amount of time that is required for third parties to perform their duties, and with the HHSE Form 10, we are literally working with three different CPA's, a separate PCAOB auditing firm, four attorneys (each handling different aspects of disclosure, legal responses and filing reviews) and a XBRL formatting service. Any time there's any notable change to the financials (whether it's from a comment from our CPAs or in response to an auditor's question), the company has to respond with changes in all of the textual write-ups and relay this to the XBRL formatting tables.
It's only hard like this the first time... as once all parties agree on the assumptions, supporting data and general starting point of the financials, then the quarterly reporting on a going-forward basis is much more rudimentary.
The filing date is close. That's the most specific that counsel can recommend that we disclose tonight. Please stay tuned...
Meanwhile, HHSE sends an enthusiastic CONGRATULATIONS to our friend, director MARSHALL CURRY on his first Oscar win tonight (for "The Neighbor's Window"). With "RACING DREAMS" holding onto it's 100% FRESH rating on Rotten Tomatoes, we knew that it was only a matter of time before Marshall would be accepting the Academy Award!
