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littlejohn

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Alias Born 05/01/2004

littlejohn

Re: None

Saturday, 05/29/2021 12:46:23 AM

Saturday, May 29, 2021 12:46:23 AM

Post# of 974
AXAS 2.57, land is not depreciated...


https://www.accountingtools.com/articles/why-do-we-not-depreciate-land.html


AXAS had to use reserve write

downs required in oil biz sector

in accounting for oil price drop...


And despite over a 70% increase

in oil prices since year end 2020,

the lenders still get to use the

old valuation...


...$38 to $66 increase...


It is like robbing a train with

a pen if they can take away the

real Equity in place from the

current share holders...


Permian / Delaware Basin oil

properties are getting hot again...


And M.S. knows a bird in hand

beats 2 in the bush when it

comes to getting paid back...


So we watch...LJ

Gee Beav, rithmatic isn't usually this hard to read!

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