DD Support Board and Research Team

[Slojab]

Can someone answer a question for me?

SPRA (Spur Ranch) was a John Stanton company which has now become RNDR (Rounders, Inc). Stanton tried to stay behind the scenes as a director by appointing Don Baruch as CEO. His sole claim to fame was having won a poker tournament. The majority shareholder is Greg McDonald, through his company Compass Entertainment.

They filed financials on May 2 and then on the 14th filed revised financials in which they disclosed the fact that Baruch was removed and both he and Compass were "purportedly" owed monies. Stanton was named CEO and CFO.

http://www.otcmarkets.com/financialReportViewer?symbol=RNDR&id=81370


Quote:
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NOTE 8: Contingent Liabilities

The Company purportedly has a licensing agreement with Compass Entertainment Group LLC, that if enforceable, would cause $56,000 to be due each month from November 14, 2011. The amount due would be $280,000 at March 31, 2012.

The Company purportedly has an employment agreement with Don Baruch, that if enforceable, would require payment of $20,000 per month and a non-dilutable common share position of 10%. The amount of cash due would be $99,000 and the common shares required to be issued at March 31, 2012 would be 21,919,371.

The Company disputes these amounts and has not made any representation of them in the financial statements for the period ended March 31, 2012.

NOTE9: Additional Disclosures

John Stanton, a director of the company, has filed a petition for personal bankruptcy in the State of Florida and the petition has been converted to a Chapter 7 Liquidation by the U.S. Bankruptcy Court the final dissolution is pending.

NOTE 10: Subsequent Events

Don Baruch resigned from all positions held in Rounder, Inc. on May 11, 2012 for personal reasons.

May 16, 2012
/s/ John Stanton
John Stanton
Chief Executive Officer and Chief Financial Officer
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Subsequently, they filed a revised revision to alter the above statement referencing the agreement with Compass to read.....

Quote:
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The Company signed a licensing agreement with Compass Entertainment Group LLC, that would cause $56,000 to be due each month from November 14, 2011. The amount due would be $280,000 at March 31, 2012. This amount has been deferred.
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Being a deferred liability no longer being recognized as "purported", wouldn't the $280,000 have to show up somewhere in the filing?