Mexus Gold US (MXSG)

[A Dinosaur]

I think that's part of the auditing delay/problem. Mexus Gold US is a Nevada corporation and, as such, must meet US accounting standards. However, Mexus Gold Mining S.A. de C.V. is a separate company, incorporated in Mexico and, as such, must follow Mexican accounting standards. In addition, the SEC requirements are also changing.

To make it even more difficult, Mexus has a small staff. They can't just transfer some financial clerks to take care of the extra work. Since this is a different set of requirements than they had been following, it's taking longer than expected to reconcile both sets of books, especially with all of the additional data required for a production company. Today's PR noted that next year's 10K should be on time. That's because the "conversion" from Mexican to US accounting will be done as it occurs, not all at once at the end of the fiscal year.

Dino