Decision Diagnostics Corp (DECN)

[scoop9]

I think Loan,since the Pre-paid expense account already had over $1 million in it in 2010(which is a whole other figure worth examining),and then to add another $1.25 million and you still only have $1.2 million in the account,didn't make sense to me.

That then means DECN used around +/- $1 million dollars of legal fees in 2011? Pre-paid monies from a previous exercise of ferrying money away to an attorney.

But why was there already over a $1 million in that account in 2010?

That specific account more than doubled in 2010 from 2009.



December 31


2010 2009

Assets

Current assets:


Cash $220,390 $239,302

Accounts receivable 3,155,184 3,612,647

Prepaid expenses 1,314,644 451,038

Total current assets 4,690,218 4,302,987


Read more: http://www.getfilings.com/sec-filings/110415/instaCare-Corp_10-K/#ixzz4iC7PPtRN

Yet I couldn't find any notes on why another $800,000 was socked away in 2010. BTW,ISCR spent less than $100,000 in legal fees in 2010.

I could not locate what ISCR/DECN spent on legal fees in 2011.

So,it would be fair to conclude all but 140(70 X 2) of the 1250 "C" shares still reside with the attorney.

For what reason,or for what or if any services DECN received for it,we don't know. It was designated for a very specific purpose.

If I had to guess,I got a sneeky suspicion this is simply KB's own personal Legal wranglings fund. It was used at "his discretion".

Of note also,Lathrop and Gage's "C" shares were issued in 2011.

These are convertible into a large amount of common shares.

These haven't been converted either. I suspect for the same reason Loan gave for the other preferred shares he noted were still sitting out there also...the math just doesn't work on 'em anymore.



Scoop