Total Apparel Group, Inc., the official U.S. master distributor of FIFA and FIFA World Cup licensed product, said it has booked over $2.5 million in product orders, with additional orders immediately pending. The company also expects to fulfill most of these current orders in early-mid Q2 2010.
TAG also provided an update on its audit and the planned subsequent filing of audited financials with the SEC. As previously announced, TAG has been working with MHM Mahoney Cohen CPAs to complete its audited financial statements in order to become a fully reporting company. Due to timing for the purposes of filing its Form 10, it is now the recommendation of the auditors and the company’s SEC counsel that the company file full fiscal year 2008 and 2009 audited financial statements. The decision to now include the Full Year 2009 financial statements, and possibly First Quarter 2010 financials, will delay the company’s target completion date. Due to these changes the company now anticipates the audit complete and audited financial statements filed with the SEC no later than May 17, 2010.
“Although there is still a lot of work to do to continue enhancing our sales efforts, we are pleased with the results of our activity thus far,” stated TAG CEO Janon Costley. “As far as the audit is concerned, the process will take somewhat longer then originally anticipated but we have made significant progress in moving closer to our ultimate goal of full transparency for our shareholders. We look forward to completing the audit shortly and filing the Form 10.”
