Colorado Goldfields Inc. (fka CGFI)

[sanbrunobaby]

The accounting treatment of such a purchase depends on what is being ruchased, i.e. mining rights alone, or mining rights plus land plus infrastructure etc.US GAAP gives gudiance on this, the SEC though is quite clear that generally they do not allow deferred costs for exploration not related to reserves , or require impairment if reserves not present.

So there is no reason the deal wouldnt be completed because of SEC accounting reasons- keep in mind in USA at the federal level it is a disclosure system not a merit based system.