Niocorp Developments Ltd (NB)

[walterc]

It is basically legal and accounting stuff.As a result of having many US shareholders , NioCorp has now also to follow US rules. Therefore they prepared financial statements under us accounting principles while before they used Internatinal rules; These rules differ from US GAAP.
Because the registation has not become effective yet while the reporting deadline was today they were advised also to prepare statements in accordance with international rules; So they have to issue two reports one US GAAP one and oneInternational one; Incredible if you ask me....

As it may take another month to finish this additional reporting , management took the decision that they would not trade shares in NioCorp during this period as a strong statement to the shareholders.

I think it is about time US gaap and International standards are the same so that everybody can understand financial info in each country and companies do not have to bear these accounting costs.