Figure 5. Audit passed! No embezzlement, yachts, mansions or car collections!
On December 3, the BKC accounting firm signed off on their financial audit of the 2017 year for LPPFusion (Lawrenceville Plasma Physics, Inc.). They found that our financial statements “present fairly, in all material respects, the financial position of Lawrenceville Plasma Physics Inc. (D/B/A/LPPFusion Inc.)”
This was a big deal for us, because this is our first financial audit in 9 years. Previous financial statements were reviewed by accountants, but not audited, which is a much higher level of scrutiny. Because the last audit was so old, and done by a different firm, BKC reviewed our capital contributions and assets all the way back to our incorporation in 2003. So, investors can now be assured that all our money is going where we say it is—no yachts, Ferraris or Cayman mansions included! An electronic version of the audited financial statement will be available soon, per request for the prospective or existing investors only. We expect the audit of our 2018 year will go much faster, as it will only cover that year.
This news piece is part of the December, 2018 report. To download the report click here.
