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Odessa99

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Odessa99

Re: retiredanalyst post# 16582

Wednesday, 10/05/2011 11:00:24 AM

Wednesday, October 05, 2011 11:00:24 AM

Post# of 65560
Regarding the interest expense reported on the 10Q, it was not a cash expense, and was therefore added back on the Statement of Cash Flows. It is an accounting entry with represents the difference between the 'market value of shares and the deemed price of shares' (associated with relatively small notes payable) as of a particluar measurement date. Of the $79,009 recorded for the 9 months ended 7/31/2011, only $8,152 was attributable to and booked for the 3 months ended 7/31/2011. Immaterial in my opinion. Go DUSS. GLTA
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