GNCC Capital Inc (GNCP)

[bizops12]

Of course it does not include speculation. But IT IS a snap-shot in time. All accounting is. The value of assets can change on a daily basis depending on the asset. Book value today is not necessarily the same as book value tomorrow. IF you don't understand that you should never invest a penny of your money. Things depreciate, market conditions change, new facts are introduced! ALL of these things effect book value. Accountants just have to pick a date and prepare financials. In manufacturing then raw materials inventories change daily, current inventory changes daily, depreciation occurs. Guess what that means. Book value changed. They just don't redo the financials. Every move in gold or re-assessment of gold and mineral reserves can impact the price of the land-holdings GNCP owns. IT IS a moving target. And I promise you the big dollar investors believe the book value is much greater than -20 million whether you do or not.