Delayed-Release Comment-Response or Other Letter to the SEC Filing Table of Contents
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COVER — Comment-Response or Cover Letter to the SEC
Report of Independent Registered Public Accounting Firm
C:C:C:C:
HAM
LANGSTON
BREZINA,
L.L.P.
Certified Public Accountants
Report
of Independent Registered Public Accounting Firm
To
the
Board of Directors and Stockholders
Intrepid
Holdings, Inc.
We
have
audited the accompanying consolidated balance sheet of Intrepid Holdings, Inc.
and Subsidiaries (the “Company”) (a development stage enterprise) as of December31, 2005, and the related consolidated statements of operations, changes in
stockholders’ deficit and cash flows for the period from inception, April 27,2005, to December 31, 2005. These consolidated financial statements are the
responsibility of the Company’s management. Our responsibility is to express an
opinion on these consolidated financial statements based on our
audit.
We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining,
on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used
and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In
our
opinion, the consolidated financial statements referred to above present fairly,
in all material respects, the financial position of Intrepid Holdings, Inc.
and
Subsidiaries as of December 31, 2005, and the results of its operations and
its
cash flows for the period from inception, April 27, 2005, to December 31, 2005
in conformity with accounting principles generally accepted in the United States
of America.
The
accompanying financial statements have been prepared assuming the Company will
continue as a going concern. As discussed in Note 2 to the financial
statements, the Company has suffered a net loss and had negative cash flows
from
operations for the period from inception, April 27, 2005, to December 31, 2005
and is in a working capital deficit position. These factors raise
substantial doubt about the Company’s ability to continue as a going concern.
The accompanying financial statements do not include any adjustments that might
result from the outcome of this uncertainty.
