Clarocity Corp CLRYF

RE:RE:RE:RE:RE:ZAO Already Looking into. I-Rock possibly next

[Trelawny]

Hi Pipsqueak,
I don't really know when it will close.

I would suspect that since it was a regulated company that their books would be in fairly good order. My firm is not large - but we are audited, so our books are pristine. As Axis is regulated and the relatively easier ability to bring their books up to IFRS standards my guess is that it could happen relatively soon.

But it is a big firm regulated in many States so that may add a wrinkle or two to the complexity of the audit.

Soooo... that said, I am not entirely certain but one could guess in the next 4 - 8 weeks. Audits are an odd animal and take on a life of their own.

ZAO has materially ramped up their internal financial reporting horsepower with the new CFO, the US controller and the former CFO staying on to help out with the process.

So I think the firm has the internal financial reporting bandwidth now to deal with the large task that is at hand - but nailing it down beyond a given window is very, very difficult to predict.

I know that doesn't give you much - but that is sort of the time period that I am expecting something to come down the pipe.

Best regards,

Trelawny