RE:RE:RE:RE:Let's approach this a different way.........Thank you. Since audited financial statements are issued once a year, you do not have current set of audited financial statements on which your are basing your statements. Therefore you are speculating. I don't know if you are wrong or right. As a member of the CPA of Canada, I am comfortable with the disclosure requirements. I can also assure you that as a retired senior manager of a publicly traded company that ALL the terms and covenants are not disclosed in the audited statements. To say that they are is utterly ridiculous.