Tautachrome Inc (TTCM)

[WallyWest]

That's not true. Read up on the accounting treatment of contingent liabilities. During an audit, the auditor asks counsel for an opinion as to the likelihood of potential claims against the company. The liability is contingent because it depends upon a future event (losing the present case). If the future event does not occur, the liability just disappears from the books and future financial reports. It stays on the books until the future event materializes. If (and only if) TTCM loses the present case, then the liability is no longer contingent and it becomes a non-contingent liability like the usual debts and liabilities on the balance sheet. Accounting liability and legal liability are two very different things.