Good point, Gecko. Deleting substantive, non-ToS violating posts *is* wrong, IMO.
The note in Quarterly Report you referenced says "The Company's Accounts Receivable are net of the allowance for doubtful accounts". So it would look like they took them into account already. Are you saying since there is nothing on the "Expense" side that "doubtful accounts" are not being properly accounted for accoridng to GAAP? Where exactly should this expense appear?
What about Note:#2? Related Party Transactions - Notes Payable
The Company has received short term loans of operating funds. the notes are unsecured, non-interest bearing and due upon demand. The Company intends to repay the loans from the issuance of shares of it's common stock at a rate to be determined.
How do you think the SEC will view this note? PYPR has publicly stated their short term goal is to get to the OTCBB, which means their financial statements will have to be filed with the SEC (in other words, FULL DISCLOSURE). Q's don't have to be audited, but K's do. Maybe then we would see how they were (partially) funding operations. It's curious that this note is so vague: we borrowed money and will repay it with stock at an undetermined rate. Don't think that will pass with the SEC.
AI
