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Re: BigBadWolf post# 4546

Friday, 04/30/2010 9:26:53 PM

Friday, April 30, 2010 9:26:53 PM

Post# of 40561
It was said because a poster said that they claimed "unproved" reserves which is a distortion of what was said.

I went into detail because others have implied some sort of liability for what MEDT published and I'm tired of defending fact. The fact is that only reporting companies are subject to Regulation S-X and non-reporting ones are not. They could have claimed "proved" because they aren't reporting. They chose to use the standards the SEC applies to reporting companies when they did not have to.