I like people that keep track of items in the news. That is one nice thing about blogs; you can keep track of everything. Sometimes I wish I kept better track of things, like in today’s timeline by Tal Cual about the multiple statements by the bumbling Minister of Energy and Mines and PDVSA’s President on whether PDVSA will hand in its financial statements. After saying all during June that they would do it on time, here is what has happened (from Tal Cual):
June 27th. : Ali Rodriguez (President of PDVSA) says that they are awaiting the financials from January and February to close the books and they have asked the SEC for a fifteen day extension
June 29th. : The President of PDVSA says that even though they could ask for a second extension, they expect to submit the statements on time (extension expired today)
June 30th. : PDVSA Finance hands in its financials in form 6K (should have been 20K) and requests an extension
July 1st. Minister of Energy and Mines Ramirez says that PDVSA handed in its financials, not true it was PDVSA Finance its affiliate.
July 14th. Ramirez announces that the books have been closed and will be audited in 15 days and the results presented to the shareholders and then to the SEC.
(Now, to those that don’t know this, it usually takes two to three months to audit the financials of a company, so Ramirez has no clue about what he is talking about and PDVSA will simply not be able to hand them in for at least a couple of months. This is the “new” PDVSA. Moreover, what if the auditors question some things in the financials?)
The Devil's Excrement 
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