Cross Border Resources, Inc. (XBOR)

[Ed Ajootian]

boomer, actually a sentence further down helped, it appears that RDMP was avoiding triggering the need to consolidate the books of XBOR into theirs until the end of RDMP's January quarter. Since XBOR more than likely recorded a loss in 4Q I guess this makes some sense. RDMP's accountants apparently bought off on RDMP's position that the fact that they had not yet closed the exchange agreements was reason to not assume that they had control of the stock.

Going forward XBOR should be profitable assuming they were somehow able to keep up with the AFEs that they got over the last 3 months or so. Consolidating XBOR's #'s with RDMP's will soften the blow of RDMP's continued losses.