Mexus Gold US (MXSG)

[8thaero]

How's fer a bit more recent musing than a 2009 King James translation. Not quite the 2018 clarity a msg bd EXPERT declamates.

POSTED ON JANUARY 5, 2015 BY LIAM SULLIVAN
"XBRL was originally created to increase the ease of use of financial information, but the jury is still out as to whether XBRL is a useful tool or a burden. One thing is clear: investors have not fully embraced XBRL, in part because the reliability of XBRL data has not yet been established. The SEC recently announced an initiative to facilitate its use, but concerns about the quality of XBRL filings remain."

Take THIS to heart !!

In many companies, XBRL filings are put together in a separate process from the filing of “normal”, HTML-based financial statements. Further, unlike those quarterly and annual financial statements, the independent auditor is not required to review or audit the XBRL information. As a result there can be something of a disconnect between the two.

What about timeliness of filings? In one of our previous posts, we noted that NT filings can be a powerful indicator of subsequent accounting problems. In this post, we will look at the timeliness of XBRL filings and its possible relation to a lack of timeliness in a company’s financial filings in general.

Question: Can a filer rely on Exchange Act Rule 12b-25 to extend the due date of an Interactive Data File?

However, filers that are unable to file their traditional format financial statements by the prescribed due date — but qualify for the additional time permitted under Rule 12b-25 and file their traditional format financial statements within that time — would not be required to submit and post their interactive data until the traditional format financial statements are filed." [May 29, 2009]

It says, look for timely normal format first always as been good enough for real investors can read the printed word. Not rqd file UNTIL must include fled ASAP AFTER or becomes pure nonsense ruling as many express they seem to believe.

NOTE: even back 9 years SEC says is a great added task for a VERY small office ( try poor Deb , ridiculed, maligned here and one part time Tahoe casino book keeper under off/ on cancer chemo. As said here the new format is a burden hard to see the needed expense few even use.

"Glory, Flying Regulations! Have them read in every station. Burn the arsch of all who breaks them. The force is shot ta hell! "