| | Tuesday, March 31, 2020 | WARNING: Earnings Reports Are Not Going to Reflect the Virus's Full Impact By Shah Gilani | Dear Wall Street Insights & Indictments Reader,
Last week, the Securities and Exchange Committee (SEC) announced an order providing "public companies a 45-day extension to file certain disclosure reports that would otherwise have been due between March 1 and July 1, 2020."
To be clear, that means earnings reports covering the first quarter, which ends today, may not have to be filed on time, and material impacts of the coronavirus hitting companies throughout the second quarter, which ends June 30, 2020, don't have to be disclosed in a timely fashion.
Given COVID-19's impact on company workers, including executives, managers and accountants, in-house and external auditors, granting an extension on filing certain disclosure reports looks considerate, but in reality, it's a recipe for disaster.
Now's not the time to delay earnings reports or material disclosures... | | | | | | | It's Easy, Fast, and Can Work in ANY Market Condition | | Regularly harnessing the V3 Effect is easy to do... it only takes about five minutes a day... and what it could mean for your future is nothing short of remarkable. Take a closer look here. | | | Calling All Folks Interested in Investing, Here's Your Survival Guide | It may be difficult to see through the darkness during this period. That's why I'm reaching out with a one-of-a-kind market guide today. But I don't suggest navigating this on your own... it's far better to make an informed decision based on the expert-backed information available here.
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