Payfare Inc T.PAY

New Press Release

[1condor]

To PAY management....these newreleases are becoming embarassing. Why not just say we will provide and update when the information becomes available. Proving dates is only injecting unnecessary volatility into the stock.

[claritas]

I think that first, they are required to enforce insider cease trading, and secondly, they need to protect themselves from potential legal action should if there is a negative outcome on the side of the Vendor which conceivably could impact the Company itself. The more this drags out, the more I sense that there are important unresolved issues on the Vendor side and these continued delays are not

[1condor]

Be nice when this mess is all cleared up. It is causing unnecessary volatility in the stock with little chance for a move higher.

[1condor]

Another deadline not meet today??? Seems so. They really need to stop putting dates on this...it is driving the stock down. 5's now seem very possible.

[RawSienna]

How much longer until the regulators start poking around asking more questions and demanding answers?

[jojolaser]

Why are you suggesting there's more to this then what it is. The issue falls directly on the vendor, not Payfare, as they have continued to fail delivery of the soc1. Nothing more to it.

[RawSienna]

Has to be a link in the chain that PAY relies on in some form or another, can it be repaired? replaced? is the whole chain bad? What are the final consequences?  Maybe you don't have concerns but without any further explanation the risk is running a little to hot for me. At the end of the day, Pay needs to file an audited report.

[1condor]

jojolaser...this issue is causing a lot of volatility in the stock. The SP is about to dip into the 5's. I suggest they drop the date (its working agains the SP) and just say "when it becomes available". 

[jojolaser]

Wishful thinking but thats not the way it works. They are under a mcto they can't just say " when it's available" ...the vendor is the f$@king problem not Payfare.

[1condor]

jojolaser...well then they had better send out another fictional date today. Stock will now dip into the 5's.

[1condor]

Hey PAY management....time for another update. Let me guess...they should be available July 2. For those holding or trading....there is some support around 4.70.

[1condor]

Some on here saying this is a nothingburger. Well...maybe not.

[jojolaser]

Not saying it's a nothingburger because any halt is damaging whether it's justfied or not. A lot of the bull boards are castrating management but in my view their hands were pretty much tied on this one.  Fault fulls squarely on the ineptness of KPMG and the vendor not delivering the goods...it's that simple. This will work it's way out hopfully with minimal damage but in my

[1condor]

At least the halt will keep the stock from ticking down daily and eventually into the 5's. Will be a very interesting day when the halt is lifted (most likely several weeks or months from now).This could get a lot more messy...What happens if the stock is still halted when the next quarterly earnings release is due?

[TimeScape]

The SOC-1 report from the vendor that is late is an internal control analysis of the vendor's systems.  Really should not have any bearing at all on PAY's financial statements, and they continue to stand by the unaudited 2023 nummbers already released.  Not PAY's fault that the vendor and its auditors have been so late with the report.  PAY has already released this year