As one of KITD's largest shareholders and the Company's former chairman and CEO, I have kept my opinions on the Company's trajectory confidential since my departure in , in deference to the efforts being expended by current management and to avoid unnecessary discord.
However, I can no longer silently abide the Company's attempt to scapegoat previous management or tolerate the recent record of deficient management and poor business execution.
Since my departure, it is possible that your new audit committee members have elected, in consultation with the firm's outside auditors, to apply different revenue recognition policies.
That is not prior management's responsibility, and a change in revenue recognition policies and application may reflect your recently insinuated decision to further separate the "software" and "services" lines of the Company's business.
But that’s exactly what Kaleil Isaza Tuzman, the star of the 2001 documentary “Startup.com,” is doing after he got a little taste of life inside a Bogota, Colombia, jail.It is kind of a dance Jehane Noujaim and Chris Hegedus have a rhythm together, like they’re used to talking and thinking as a team.No wonder—they’ve spent over two years—intensively—working on Startup.com, a documentary on the spectacularly speedy rise and fall of an internet company called gov Tuzman, indicted on charges of market manipulation and accounting fraud in September by a grand jury impaneled by Manhattan US Attorney Bharara, got roughed up a bit in the Bogota jail after he was arrested by police in that South American country.Tuzman is sharing a 90-square-foot jail cell with two other inmates — an alleged drug trafficker and an alleged murderer — awaiting extradition to the US.Romero says he’s innocent and wants to prove it in U. The Miami Herald interviewed more than 10 people who are either awaiting extradition or have passed through the system. law enforcement questioned them without giving them access to a lawyer or informing them of their rights. Colombia warehouses detainees awaiting transfer and trial — primarily to the United States — in Patio 12 and 16 of La Picota.All of them claim they were denied basic rights a U. prisoner might expect: running water, sunlight, minimal levels of hygiene, access to medical care and full disclosure of the charges against them. It’s a cold bunker atop a prison block that receives no direct sunlight, has less than three hours of running water per day and is isolated from other inmates and amenities. citizen who was detained in September on allegations of U. securities fraud and lying to regulators, says it’s a chaotic and dangerous environment where the innocent — and those accused of lesser crimes — are housed together with hardened criminals.During my tenure at the Company, all revenue recognition decisions were made in consultation with and approved by the Company's independent accounting firm, and approved by your audit committee.We have no reason to believe any of those decisions were improper.Well, we had exceptional access since Jehane was living in Kaleil’s house: of course we were coming in!It was a true luxury that was given to me when I partnered with Jehane on this.We decided it would make a better film to continue living together, to focus on Kaleil and Tom’s relationship.And you need a period of time and access to watch those emotions come to surface.8-K (the "8-K") effectively blamed prior management for the Company's delayed filing of third quarter results and the Company's intent to restate its financial statements for the 2009-2011 period, among other issues.