Treaty Energy Corp. (fka TECO)

[bigdaddy21c]

Treaty’s true administrative costs are NOT $52,000 per day. During the CC February 20, 2013, Sean stated:

“Generally Accepted Accounting Principals (GAAP) dictate that when we issue stock, we have to record that as a liability loss. This loss is recorded under General Administration Expenses. Our true costs are approx. $500,000 in administrative costs per month.” Shortly after that he corrected himself and said the cost were per year and not per month. That comes out to $1370 per day (500000 /365), a far cry from $52,000.

You can listen to the CC on youtube