Saturday, July 24, 2021 2:12:43 PM
He posts all these financial statements but not the Balance Sheet because it does not support anything he states.
1) He mentions accumulated deficit account. The post does not understand simple accounting. Accumulated deficit is the same as retained earnings. The movement in this account is literally the Net Income on the P&L.
To prove this point take
Accumulated deficit
April 2021 (52,641 )
Jan 2021 (53,408 )
the difference the above amount is 767, which is the same as the Net Income on the P&L
So the whole statement about the accumulated deficit is 100% false.
2. The increase in the Current Crypto (NET) account is 100% on the P&L and it's still in the revenue account. There is a $1.8m movement in the crypto account some of this is related to the appreciation in HEX , I think my estimate was about 700-800k.
3. How they decide to "account" or "classify" for this is not the issue. If they are using FMV based on 157 (which isn't speicfic to intangibles and includes derivatives and other items), that means that the market value is listed of those currencies. The fact that they Net them in the current accounts, means all adjustments are already included in those accounts and technically they should show those costs basis and the fm valuation as well. Current accounts are typically posted through revenue due to the current/liquid nature of the account. I will give credit for identifying this is noted as a "current intangible" although I have never heard of anything classified like this, crypto is fairly new and theory of classifications is not necessary the point. The point is where are they putting the appreciation of owned current assets and it's clear it's in the revenue.
Recent EBZT News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/20/2024 10:01:16 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/14/2024 03:02:29 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 05/15/2024 05:53:49 PM
- Expansion into Taiwan Markets Is Helping Shares of this Blockchain Firm • AllPennyStocks.com • 04/25/2024 04:15:00 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM