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Re: sailcat post# 22700

Wednesday, 03/10/2010 3:10:19 PM

Wednesday, March 10, 2010 3:10:19 PM

Post# of 42706
listen, we all know about gaap. i would say most if not all the posters on this board understand what it is and why it is used. the flaw in your argument is that the last set of financials were UNAUDITED. that means the company prepared them and then released them. no thrid party firm looked at them or verified them or gave a statement stating that they were accurate. in layman's terms, they were unofficial. a company could use any accouting methods they want when publishing unaudited financials.
regardless, the financials that are being so eagerly awaited are the audited financials. these will first of all show the revenue from all the subsidiaries (which is where i and many others believe the vast majority of revenues will be) and secondly they will be AUDITED, which means an accredited accoutning firm will reveiw them and state that they are accurate and fair.

have you seen the financials that were released in september? if not, i can provide you with a link.
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