Green Star Products
I posted recently on GSPI's attempt to build a CO2 Neutral plant. I then went to their website to see what kind of company it was.The first thing I noticed is the financial statements are only available through 2003. This is not a good sign. Here is the explanation:
However, we are slightly behind on finishing our financials because, as many of you know, the accounting procedures have become immensely more complex over the last two years due to the Sarbanes Oxley Act.
This sets off alarm bells for me. The SOx provisions the GSPI CEO is probably most interested in is the certification of the financial report by the CEO and CFO under section 302. That has been in effect since 2002
I will be interested to see their financials once completed in "late July". Until then, I would not invest a dime in such a venture.
posted by Jim VAT @ 7:08 PM
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