Mexus Gold US (MXSG)

[T-Hawk]

First, you still haven't provided the link to the language in current SEC guidelines forbidding gold sales be claimed under revenue.

Next, what were the obvious reasons the 45% contract with the brothers was rescinded? And how is it that a couple of brothers with a plant washer could produce tha much gold, yet Mexus hasn't prodiced 300 ounces since then?

Now the story is now changing to, if someone else digs up the gold nuggets then a mineral reserve isn't needed to claim revenue from gold, but if Mexus mines it all by itself, then an established mineral reserve is needed to claim revenue?

Also, could you please point out where in the 2012 10k it mentions Mexus was involved in any JV with any of it's properties?

I did find this in the 2012 10K

Revenue Recognition

The Company recognizes revenue on an accrual basis. Revenue is generally realized or realizable and earned when all of the following criteria are met: 1) persuasive evidence of an arrangement exists between the Company and our customer(s); 2) services have been rendered; 3) our price to our customer is fixed or determinable; and 4) collectability is reasonably assured.

Hmm..... nothing about having proven reserves in that explaination... Here's more from the same 10k...

Revenue

For the year ended March 31, 2012, we had revenues of $239,911 compared to $21,000 for the year ended March 31, 2011. We recorded revenues of $260,911 for the cumulative period from September 18, 2009 (Exploration Stage Entry) through March 31, 2012. The revenues of $239,911 for the year ended March 31, 2012, are from our mining and salvage operations.