MEDirect Latino Inc. (MLTO)

[pinkrock]

Latest Ron Williams happenings:


Posted by: guilfordin
In reply to: None Date:10/2/2007 2:40:47 PM
Post #of 2553

From: Gary Collins [mailto:[e-mail]]
Sent: Monday, October 01, 2007 10:48 AM
To: [e-mail]
Subject: PET ECOLOGY



The going concern is standard verbiage for a company with the working capital ratios and the losses that we have experienced and with hindsight should have incorporated earlier in 2006 into the statements. The ratios will improve with the completion of the Tricon/Texas Atlantic purchase and continue to improve through the 4th qtr due to reduced overhead and increasing commercial activity. What is not able to be adequately described through the process of financial statement presentation is that of the related party debt probably 75% will not have to be paid back for a variety of reasons

- one deals with the countersuit we have instituted against Ron Williams and TBeck capital.



This will serve to bring the ratios more in line as well.



One of the things to keep in mind is that the company’s most important asset is its intellectual property and it is not valued other than amortized patent costs as the accounting rules require the these costs be expensed. The company would present differently if these costs were allowed to be capitalized.



Gary what you are viewing is bringing the company’s accounting in line with GAAP and in a the format that is acceptable to the SEC. The reality of the situation is that the company is moving forward and with the coming infusion have the resource to fund itself until fully commercialized.



Bob S