Carnegie Development Inc. (CDJM)

[Meyerlane621]

The audited "numbers" are based on unenforceable debt. The second a single dollar flows into this company there will be an avalanche of litigation filed to reclaim what Kimmons has stolen.

Debt doesn't just go away...

This company expects many possible claims, when the cash flow begins with new projects or otherwise. The legal department negotiated almost all the claims with share issuance. Yet, this company expects litigation and many more claims in the future

Prior to January 1st, 2012, this Company received quite a few legal notices for non-payment and nonfulfillment
of obligations for the various projects in the development stage. This company had an in-house
attorney to defend, conciliate, negotiate and settle all such claims. These are all very common for a cash
trapped companies. These matters arise in the normal course of business. Since this company had no
activities since 2012 and until now, the claimants did not pursue legal action, though it may not be correct
to conclude that the claimants dropped the legal action. This company expects many possible claims, when
the cash flow begins with new projects or otherwise. The legal department negotiated almost all the claims
with share issuance. Yet, this company expects litigation and many more claims in the future. While the
company is fully prepared to defend, it is not at all possible to estimate the claims. Hence, no provision is
made in the financial statements.

By applying the law of limitation, this company removed the payables from the books and accounted it as
other income. Even if it is as per law, this company expects claims in the future in this regard. Further, it
is almost impossible to determine the possible future claims from the payables. Hence no provision is
made in the financial statements.

http://www.otcmarkets.com/financialReportViewer?symbol=ESCU&id=145235