March 21, 2006
The Section 404 requirements have put an unfair burden on small companies like ours. Although our market cap is and has been below $75 million for almost two years, we have had to comply with the requirements because of our qualification from two years ago.
The requirements without intending to do so, seem to set-up small companies for failure. We have limited resources and staff and cannot do everything a large company can, and yet we're being tested and governed in exactly the same way. In our case, we've had to divert valuable resources from our product development pipeline into our compliance programs.