Mexus Gold US (MXSG)

[T-Hawk]

I did not create test mining Rules exceptions in 1934 but you have denied they exist as placements by accredited investors

Whoa.. the waters are getting muddied here. What do test mining rules have to do with placements by accredited investors?

Let's recap how the conversation on test mining rules exceptions became a diversion to cover-up Mexus lies.

1. At some point back in (I believe) 2019, Mexus put out a PR that gold sales had occurred AND, (If I recall correctly) filed an 8-k as well.

2. When the next 10-Q came out, no revenue for gold sales was reported. When pointed out, the excuse was floated that gold sales did not show up in revenue as they could only be shown as an offset to exploration/development expenses. This statement (while plausible because the SEC does allow it to be reported that way) was not a correct assertation of what happened. There are two ways this excuse was shown to be incorrect, first, Mexus had previously recorded gold sales as revenue (as was pointed out they had done in their 2012 & 2013 10-ks). The second way this statement was shown to be inaccurate was the first time Mexus made any reference to gold sales being used as an offset of expenses was in the August 2020 10-k. Prior to then, even though the company claimed to have made gold sales, record of these sales never showed up in the financials as either revenue or offset of exploration.

3. Once the company's lies about gold sales was exposed, instead of admitting no gold was sold, it was deflected into, how basement dwellers denied the test miner exception rule existed.

No one ever denied the test mining rule existed. It was simply pointed out that Mexus had never previously chose that way to disclose sales. Until the August 2020 10-Q Mexus had always opted to report gold sales under revenue. Mexus changed to report gold sales as an offset to exploration in August 2020.

Effective 1/1/21 the SEC has revised it guidelines requiring miners without provable reserves to only report sales as an offset of expenses. However, prior to 1/1/21 companies could report it either way (Revenue or off set expenses).

Despite all the attempts to use test mining rules jibber-jabber to distract from the real issue, it is abundantly clear Mexus lied about the gold sales it claimed to have made in 2019.