QED Connect Inc (QEDN)

[Slojab]

Mind boggling, isn't it?

Full text.....

When the Company acquired Green M&S, it elected to not book the reserves of the Gold Mine, but to keep track of its value off the Mineral deposits using the Jennings Capital formula per the ASC 36010-40 Report as we understood it, which based on the valuation and type of the Gold reserves at per ounce, valued the mine at $16,318,995 when Gold was at $1800 per oz. This valuation was also based on the Company being able to fully mechanize the mine, which has not happened. The current value of the mine based on the above formula and the current Gold values at $1,084 less ore that has been mined as of December 31, 2014 is $10,907,415. As the Company, at this time, has not updated the report this is considered the best method to look at the valuation, and due to the recent death of our in country representative, we have not been able to get an accurate count of the ore mined for the last 9 months.

He didn't bother to keep records?!