KGIC Inc LGLTF

RE:Loyalist auditors

[1nv35t0r]

Just to clairify, Q1-Q3 have been reviewed. Review procedures include analytical procedures and inquery of management. This provides substantially less assurance than what is performed in an audit. Because this is the case, the in depth audit procedures performed at YE on the first 3 quarters could identify GAAP departures which require adjustment and a significant amount of accounting work which the CFO is not there to perform/oversee. I am not saying that is what happened here with LOY, but it is incorrect to assume the auditors are starting from Q3.