Mexus Gold US (MXSG)

[T-Hawk]

Unreal. Already covering for why no revenue for gold sales is going to show up in the 10-K.

GAAP does not allow sales from gold (i.e. revenue) to just be deducted from asset value, corporate debt, exploration/development cost (or whatever the heck else you want to claim can be offset this week) without some kind some entry explaining why the asset value was reduced. This is what is known as the accounting equation.

The accounting equation is considered to be the foundation of the double-entry accounting system. The accounting equation shows on a company's balance sheet whereby the total of all the company's assets equals the sum of the company's liabilities and shareholders' equity.

Based on this double-entry system, the accounting equation ensures that the balance sheet remains “balanced,” and each entry made on the debit side should have a corresponding entry (or coverage) on the credit side.

If the asset/expense/debt/development cost is affected then there has to be an offsetting line item on the other side of the page.

An claims to the contrary is a deceptive farce.