Baristas Coffee Company, Inc. (BCCI)

[BobSinCA]

SHOULD be $400k of equity and expense, agreed.

BUT, in Q2 2012 BCCI booked $5K in expense, $5K in equity for the $400K worth of stock (based on estimated SP in Q2 2012).

There is a reason BCCI shows a profit -- they pay for various fees and debt settlement (some of which was never on the books to begin with!!) with stock. The receiver gets to sell at market value, BCCI records the expense at .001/share, or a discount of 97.5% based on current SP of $.04!!

Magic! But, is it GAAP?

We all look forward to the audited financials in support of Mr. Henthorn's plan to list on NASDAQ this year. Though I am looking forward, I am not holding my breath....