What changed in this filing

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

2009-11-23 compared with 2009-05-20 · 14 added, 64 removed, 5 unchanged (94% of the section changed)

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Applicable to Smaller Reporting Companies.

Not Applicable to Smaller Reporting Companies.

CONTROLS AND PROCEDURES.

(a) Evaluation

of disclosure controls and procedures .

We conducted an evaluation, under

the supervision and with the participation of our Chief Executive Officer and

our Chief Financial Officer, of the effectiveness of the design and operation of

our disclosure controls and procedures (as defined in Rules 13a-15(e) and

15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end

of the period covered by this quarterly report.

this evaluation, our chief executive officer and chief financial officer

concluded that as of the evaluation date our disclosure controls and procedures

were generally effective.

Our procedures have been designed to ensure that the

information relating to our company required to be disclosed in our SEC reports

is recorded, processed, summarized and reported within the time periods

specified in SEC rules and forms, and is accumulated and communicated to our

management, including our chief executive officer and chief financial officer,

as appropriate to allow for timely decisions regarding required

we believe that further steps are warranted to better assure the effectiveness

of these disclosure controls and procedures, specifically as it relates to

Flint’s operations resulting from the reverse merger with Semotus on October 1,

2008 and the acquisition of six U.S.

subsidiary companies of China Voice Holding

(CHVC) on January 29, 2009.

Both the reverse merger with Semotus and the

CHVC subsidiary acquisition transaction both resulted in additional accounting

personnel and financial reporting procedures to be assimilated, combined and/or

consolidated together with Semotus’ existing disclosure controls and

We have implemented certain steps in furtherance of this

objective and believe, subject to our continuing evaluation and review of these

further steps, that additional steps may be warranted.

Additional steps that the

Company believes it must undertake are to further design and implement adequate

systems of accounting and financial statement disclosure controls for Flint’s

operations during the current fiscal year to comply with the requirements of the

We believe that the ultimate success of our plan to improve our internal

controls over financial reporting and disclosure controls and procedures for

Flint’s operations will require a combination of additional financial resources,

outside consulting services, legal advice, additional personnel, further

reallocation of responsibility among various persons, and substantial additional

training of those of our officers, personnel and others, including certain of

our newly appointed directors, who are charged with implementing and/or carrying

out our plan.

be noted that the design of any system of controls is based in part upon certain

assumptions about the likelihood of future events, and there can be no assurance

that any design will succeed in achieving its stated goals under all potential

future conditions, regardless of how remote.

(b) Changes in internal control over

financial reporting.

There were changes in our internal control over

financial reporting that occurred during the period covered by this Quarterly

Report on Form 10-Q that has materially affected our internal control over

financial reporting.

These changes are due to the acquisition of six subsidiary

companies previously owned by CHVC, which resulted in additional accounting

personnel and financial reporting procedures to be assimilated, combined and/or

consolidated together with Flint’s accounting personnel and financial reporting

filings we will disclose any further change that has materially affected, or is

reasonably likely to materially affect, our internal control over financial

(a) Evaluation of disclosure controls and procedures .

We conducted an evaluation, under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls

and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this annual report.

Management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) of the Exchange Act.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

Also, projections of any evaluation of effectiveness to future

periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

(b) Changes in internal control over financial reporting.

There were no changes in our internal control over financial reporting that occurred during the period covered by this Quarterly Report on Form 10-Q that has materially affected our internal control over financial reporting.

In future filings we will disclose any further change that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

OTHER INFORMATION

LEGAL PROCEEDINGS.

party to various legal proceedings in the normal course of business.

evaluation of these matters and discussions with counsel, we believe that any

potential liabilities arising from these matters will not have a material

adverse effect on our consolidated results of operations or financial

We are a party to various legal proceedings in the normal course of business.

Based on evaluation of these matters and discussions with counsel, we believe that any potential liabilities arising from these matters will not have a material adverse effect on our consolidated results of operations or financial position.

RISK FACTORS.

Applicable to Smaller Reporting Companies.

Not Applicable to Smaller Reporting Companies.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk