Monday, September 26, 2016 10:51:02 AM
mineral reserves mainly comprised of Gold, Silver, Platinum, and Rhodium in-ground hard rock assets. Amounts are less
than 20% are recorded on a cost accounting basis. Value will no longer be carried over on goodwill but impairments will
be charged against goodwill on an annual basis (not quarterly). Cost of the units acquired equal 1% of the total asset, in
a share swap agreement date August 17th, 2010, priced at $1300 per unit x 1 million units = $1.3 Billion over a 20 year
period. The net asset value of the units in holding as of Decenber 2012 was approximately $1.15 Billion USD. The trustee
maintains it holds sufficient assets to honor a security price of $1300 per unit. The property was valued by a USPAP
certified federal appraiser who no longer practice. Appraiser voluntarily relinquished license four years later for a
shakeup in the mortgage industry due to changing state requirements and real estate mortgage requirements at the
federal level. USPAP confirms the appraiser had a clean record at the time of appraisal, indicating compliance with SEC
Guide 7 regulations, whereas, mineral reserves are stated as per the FAS 7, SEC - Industry Guide 7 requirements for
development stage companies. Evaluations are by licensed third parties and gains/impairments will accordingly go
against Goodwill for long lived assets if the trust cannot maintain adequate other capital to ensure the value of its
securities held by the company. The company is valuing the goodwill of such relationships at approximating $2,882,226
recorded as an asset of the company.
http://www.otcmarkets.com/financialReportViewer?symbol=BYRG&id=160646
Investments (including Property, Plant, Equipment) Q2 2016..... 0 Annual 2015..... $1,331,774,883
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
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