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Thursday, August 26, 2010 12:33:00 PM
have YOU ever seen an annual or quarterly report that does not include a forward looking statement ???? does that mean every single company is intending to lie ??? that's absurd.
A FORWARD LOOKING STATEMENT DOES NOT DISCLAIM WHAT THEY ARE ANNOUNCING, BUT STATES THEY CANNOT CONTROL FUTURE EVENTS. THAT'S WHY IT IS CALLED "FORWARD LOOKING".
i'll repeat - a forward looking statement is NOT a disclaimer. it does not absolve them of what they are saying about the past and present - it only states they cannot control the future.
FOR EXAMPLE, IF THEY SAY THAT THE DEAL WAS CLOSED, AND THERE NEVER WAS A SIGNED AGREEMENT PROVING THE DEAL WAS CLOSED, THAT IS FRAUD --- AND THEY'RE GOING TO JAIL. IF THEY SAY THEY HAVE PROOF OF INITIATION OF THE WIRE TRANSFER, THEN THEY BETTER HAVE THE PROOF, OR ONCE AGAIN IT IS FRAUD, AND THEY GO TO JAIL. that's what sarbanes-oxley is all about.
and no forward looking statement makes telling lies about the past and present acceptable - just says they cannot foresee all future events.
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