IMD Companies Inc (ICBU)

[bigballer_sa4]

Did you look at the Information and Disclosure Statement? Been there for the past 3 reports.

During the 4th quarter, 2016 iMD purchased KRSNA MINERALS that is based in India.
KRSNA currently has contracts with the Chinese government to supply manganese and
Iron ore to China. The recoverable asset values are in excess of 700 million dollars for
the total claims owned by KRSNA MINERALS. The Current Claims mined produced
revenues in excess of 30 million dollars in 2016 KRSNA MINERALS plans to
dramatically increase the number of claims being mined in 2017. KRSNA MINERALS is
now a wholly owned subsidiary of ICBU and all financials of KRSNA MINERALS will be
represented into ICBU financial statements.

Last time I checked you only book the revenues as its processed. I could be wrong on this but I don't see how you book 70mill in revenues if the service hasn't been rendered. Any other company you know book revenues for services not rendered?

At first I was expecting to see 700mill on the balance sheet as well but i asked around and non of the accountants I knew were land mining experts but they said the best they could probably do is show the market value of the land but they can't really do the market value of the assets in it especially when there are extraction costs etc...


Huge payroll? you referring to this?
Salary and Wages: 1,492,769