Plasticon International, Inc. (fka PLNIQ)

[gopackersgo]

You are still wrong but an excellent typist. What they have done to date do not require audited filings ...period..WHEN they release numbers including Pro Mold and Semco they will be required to under the provisions you quoted....thanks for the lecture on your glorious "accounting" background....but the patents are merely a footnote on the financials and certainly you of all people should realize that....at least with the resume you posted...The assets thru Dec. 31 which is the only period in question...at least for now... is $7 million.

What is the basis for the patent value? Think Jim. Think. Its why the $20 million is a footnote and NOT LISTED as an asset in the balance sheet. The company fought like helll to have them included at the above value....and lost...reason being...the audit firm being accountants like yourself said no. The reason I know this is not because I am an accountant...the reason is I asked the parties who would know...not speculate...but know. Doesn't mean they aren't worth $20 million....I believe soon they will be worth even more....But you of all people as a CFO, PHd and whatever else you wrote CLEARLY should realize there is a difference in the accounting representation of what it cost to develop the asset, what a judgement may validate their value as and what they are worth in the marketplace.

And lastly...a company can indeed issue a press release if a legal judgement is rendered that validates or agrees with a value to the patents...that is not fraud...keep up the good typing though....

PS. if you really memorized every FASB release...you needed to get out more often....thats what clerks are for