Littlefield Corp (LTFD)

[Joe Master]

I am/was an accountant and the way it works is, if you do not expect to pay 18% interest then you would not accrue at 18% interest. Each year you would add that years interest charges at whatever rate you expect to pay.

Now if the statuatory rate is 12% for example and you accrue at 8% you need to convince your auditors on why 8% is more approriate than 12%.

All in all this is one accounting issue they have handled very well. The actual shortfall is really nothing more than this years interest charges.

Now for what is really important I wonder how we did for Q3 since the price is down to a Buck and a couple pennies now.