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Re: uverules post# 76275

Monday, 02/11/2013 1:27:12 PM

Monday, February 11, 2013 1:27:12 PM

Post# of 241589
They didn't have an auditor in Q3

I see what you're saying, and in the Q3 balance sheet, it looks like they actually subtracted the Total Liabilities from the Total Equity to come up with the bottom line, which would be wrong.

The cash flow starting cash is different, as you say, but that could mean an error in putting things in the proper accounting box, or series of errors along these lines, in earlier reports that were carried through to Q3 then fixed in Q4.

Of course, this is the reason why you hire a CPA and audit your statements.

If they were a fully-reporting company, then I would see this as a big deal, but right now, they're only beginning the process of fully reporting, so I would expect some relatively significant changes to earlier quarters as the full audit is completed.

From that point going forward, however, I would expect far more accuracy and consistency of reporting.

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