Borneo Resource Investments Ltd (BRNE)

[beachsideeddy2]

Hey, Chucky! Isn't this the funniest thing anyone has ever read in a quarterly report? HAHAHAHAA Suddenly there was no one home in Borneo!!!! AAAHHAHAHAHAHAHA

In the fourth quarter of 2014, the Company stopped receiving any financial information or documentation with respect to the exploration activities at the Talawaan property and the Ratatotok property. Attempts to communicate with operational personnel were unsuccessful. The Company ceased to book revenue from these properties from October 1, 2014. Against the background of the above, Management deemed it prudent to make a 100% provision against the carrying value of both properties in 2014. As a result, the Company has incurred an impairment charge of approximately $7 million.