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Anvil

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Anvil

Re: None

Friday, 09/27/2019 5:43:00 PM

Friday, September 27, 2019 5:43:00 PM

Post# of 37220
Actually, using GAAP accounting and SEC’s mining rules, the company, should have valued the mine property as basic desert dirt and the rest as a intangible asset. But the $10 million acquisition price needs to be accounted for, even if post acquisition, the write off the intangible portion, which would be expensed via the income statement and reduce retained earnings.

That is, of course, if they were using proper accounting principles.
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