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Re: repeat58 post# 6153

Tuesday, 06/15/2010 7:47:48 PM

Tuesday, June 15, 2010 7:47:48 PM

Post# of 13354
Peat I believe you are incorrect and I am putting this up here to help everybody and xpgh .....everyone please go the link below and read the information reporting info for yourself - take the time to do it.

Here is the link for alternate reporting criteria

http://www.otcmarkets.com/content/doc/ps/Disclosure/Guidelines/2.pdf

Peat,Hog,Truth call Mike as he must not be aware of the "adequate current information publicly " language ....we arent "distressed" , we supposedly have ~2 million in the bank but it would look distressed from pinksheets info to a new investor and potentially turn that investor off and for existing investors we should be provided with "adequate current information."

According to pinksheets.com

Xpgh has been classified as "Distressed Pink sheets Limited Information Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to meet Pink Sheets' Guidelines for Providing Adequate Current Information. Companies in this category have limited financial information not older than six months available on the Pink Sheets News Service or have made a filing on the SEC's EDGAR system in the previous six months."

As we all know we had a compliant pattern of financial reporting going on in 2009 but then it all stopped.

Interim Financial Report Nov 30, 2009 Dec 22, 2009
Interim Financial Report - October Financials Oct 31, 2009
Quarterly Report Sept 30, 2009 Oct 8, 2009
Interim Financial ReportAug 31, 2009 Sept 8, 2009
Interim Financial ReportJul 31, 2009 Aug 6, 2009
Quarterly Report Jun 30, 2009 Jul 13, 2009
Quarterly Report Mar 31, 2009

Section Two: Issuers’ Continuing Disclosure Obligations
Issuers are considered to have adequate current information publicly available to the extent such information is updated to reflect new developments after the publication of the initial issuer disclosure statement. In general, an issuer shall provide updates to the most recent balance sheet, income statement and statement of cash flows, as required under Item XII above, as well as disclose changes in any other of the above disclosure items no later than 45 days after the end of any fiscal quarter (“Quarterly Updates”) and 90 days after the end of any fiscal year (“Annual Updates”). Issuers shall also provide updates (“Current Updates”) within 10 business days in the event that any of the information contained in the disclosure statement (including information contained in any prior Update) has become materially inaccurate or incomplete, or upon the occurrence of certain events described under the Current Reporting Obligations section. The specific requirements for Quarterly, Annual and Current Updates are set forth below.

Insiders, affiliates and control persons of issuers shall be aware that Rule 144 under the Securities Act requires that adequate current information be publicly available if they wish to sell any of their securities in the public secondary markets.
Quarterly Reporting Obligations
In order to be considered as having adequate current information publicly available, issuers must publish Quarterly Updates to their disclosure statements through the OTC Disclosure and News Service, no later than 45 days after the end of each fiscal quarter.
Quarterly Updates should contain responses to the following items, and should follow the format below.
Instruction relating to the preparation of Quarterly Updates:
Issuers shall prepare a document that responds to each item and sub-item below and shall include in its response to a particular item (i) whether a particular item is not applicable or unavailable and (ii) the reason it is not applicable or unavailable.
Quarterly Updates should be published under the report name of “Quarterly Report” or “Interim Report” for the appropriate fiscal quarter end.

I am stupid, do not pay attention to me or my posts...do not make buying decisions based on my banter at all ...I am a negative person by nature and at best an amature investor. Hows that for a p.c. disclaimer....hope everybody makes money here.