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Malone & Bailey, PC was formed in 1996 as a merger of each of the practices of John C. Malone and Sterling L. Bailey, Jr. Both John and Sterling had general practices including a mix of audit, tax, bookkeeping and consulting services , the standard ,full service' mix that the majority of local CPA firm practices have today. In 1996, we had two SEC clients. By early 2001, John and Sterling had 13 SEC clients and 1 non-partner employee. We then hired a third partner specifically to serve our growing SEC practice niche and instituted a number of changes to the standard CPA firm practice model to maximize the efficiencies that the smaller SEC companies require: lower costs, faster service and more competent work product. Our remarkable SEC audit growth has come from referrals from satisfied clients and other professional service providers. These people tell us repeatedly that the number one and two reasons for changing auditors remain as poor service and high fees. Today, we have 8 SEC-qualified audit partners serving smaller public companies in our single office, more than any competitor. We use the latest in technology and practice aids to create a quality SEC audit practice refined by the above attributes. We have modified the traditional CPA firm approach to more efficiently and productively serve the specialized requirements of our smaller public companies. We believe our approach sets us apart from our competitors as our laser focus on SEC auditing enables us to provide the increased quality that SEC and Congress demand, and still maintain our fees and turn-around time at the lowest reasonable levels. Our vision is to change the way auditing and reporting is done for small and mid-sized public companies. It is our feeling that there are some structural changes necessary in the regulatory environment to maximize the quality of service and minimize related costs, in a very cost-sensitive industry. Our mission is to be the market leader delivering high-quality small and mid-size public company audit and tax services. So far, our clients have rewarded us with enough referrals to rank #9 nationally in the number of SEC clients audited (click here for a listing of our clients and click here for a listing of our main competitors). Our practice structure is scalable and we have added qualified potential audit partners as needed. In general, our competitors reached saturation in their SEC practice years ago, and now they trade up by discontinuing their least profitable SEC client audit when they land a larger or more profitable new SEC engagement. Because they haven't been adding SEC partners commensurate with their growth, they tend to be short-staffed and overcommitted, resulting in lower quality service. The integrity, competence and commitment of our people and our client loyalty are our number one and two assets. We look forward to a bright future ahead.