Southridge Enterprises Inc (SRGE)

[winstoncooper]

Wow. I have clearly shown through my last post that the Exploration and Evaluation Assets of BGL totaling $14,595,903 have been reported at cost. Not Net Realizable Value.
This "asset" is mostly made up of overhead costs capitalized.
There is no Net Realizable Value.
Net Realizable Value is what something can be sold at.
There is no way to sell a bunch of overhead costs that have been capitalized.
You need to have gone past "GAAP 101" to have this knowledge.

Why is any of this important?
It's important because you have been stating here for the last 6 months that BGL has $15 Million in assets. And, that is true. But let's unveil what those Assets are. 94.35% of total assets is comprised of capitalized costs that the company has not assigned a Fair Market Value to. Can you blame them? there is no way to value these costs.

This asset (costs) will all be written off as a loss once it has been established that the Company does not have the legal rights to the properties it has been assigning costs to.
We will never see that financial statement; there would be no reason to get an audited financial statement for a bankrupt company.....lol

Looking forward to SRGE/MSJ leaving BGL behind on the ash heap of investing