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OCZ Technology Group Updates Investors on Restatement Progress

btarunr

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#1
OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) and power management solutions for computing devices and systems, is updating investors on its restatement process.

"We know that our restatement efforts are top of mind for all investors. This process has taken longer than we expected due to a number of items. Complexity of the transactions, as well as resource issues, were the main drivers for the additional time needed. Rafael Torres, our new CFO, joined us in late March with significant restatement experience and has filled key financial leadership positions and improved the technical depth of the finance organization," stated Ralph Schmitt, CEO of OCZ Technology. "Through these improvements, we have implemented a more rigorous review process that has also resulted in the identification of additional restatement items that have taken some time to review, document and conclude on. Taking these items into account, we believe that we are on track to becoming current with our SEC filings before the end of August."

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#2
The chronic delays and excuses can't make investors confident nor happy. Perhaps OCZ is stalling because they know their ship is sinking? Maybe those with stock options are dumping their shares as quickly as they can. It will be interesting to see if this turns out to be the case in ~12 months.
 

cdawall

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#3
The chronic delays and excuses can't make investors confident nor happy. Perhaps OCZ is stalling because they know their ship is sinking? Maybe those with stock options are dumping their shares as quickly as they can. It will be interesting to see if this turns out to be the case in ~12 months.
They have gone up 20-30 cents in less than a month. Someone is investing in them.
 
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The chronic delays and excuses can't make investors confident nor happy. Perhaps OCZ is stalling because they know their ship is sinking? Maybe those with stock options are dumping their shares as quickly as they can. It will be interesting to see if this turns out to be the case in ~12 months.
???? Who says they are sinking BTW?:slap: