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Monday, August 23, 2010 10:27:15 AM
Why are the provisional patents listed valued at over $2 million and who makes that determination?
A two part question, I'll answer the second part first.
Dennis Fisher and his BOD get to decide what the intellectual property they have created is worth. And, since the financial statements are not audited, you are going to have to take their word for it.
Now the first part - they sold some stock to behlievers, they used the money for research and development, they decided the IP they created was worth that. They could have called it something else to make the balance sheet work. Usually it's something more vague like - Stockholder Equity. If there are any Accountants in the house jump in here and correct me if necessary. I play accountant at work (but that is not what I was trained to do).
Give us this day our daily bread... and lead us not into temptation (ie don't be a greedy fool)...
I do not have a premium acct, not sure getting one is worth what Ihub wants. If you PM me, include an email and I will reply.
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