MyECheck, Inc. (fka MYEC)

[Steel Penny]

A patent is an intangible asset and should only be reported on the books at the value Ed contributed it for.

You are absolutely correct. It will be interesting how such valuation information is presented. Will it be in a footnote to the financial statements or some other manner such as a PR? I realize that it won't be directly on the B/S unless it is/was for Ed's stock or some other future payment obligation. On the other hand, it may be that the patent has some real, quantifiable value that the market should be aware of.

As an example, at one point the Irvine Company (Orange County, CA) carried land (67,000 accres) on it's books at less than $2 per acre. You can bet that a more realistic value was known to the "market". So I'm sure that MYEC wants to at least give the market an idea of the value of the patent.

I expect that MYEC will go up substantially if I have the patience. It's just that I don't want to be patient.