zoro, I am running out of Posts for the day.
I already stated thathe said they were not Admin Expenses but Goodwill type of write-offs. I understand that some might say from a wirte-off and accounting standard that is nto the cleanest way to report it, but at the same time I am not sure that it is not incorrect or illegal to do either. It sounded to me that it was the easist way for them to list the Goodwill write-off Expenses thus they chose that route. Compared to the many other pinkies that seldom file at all then this style of accounting probably looks very good. I will admit if this was a Microsoft or GE with all sorts of Revenue and Expense Buckets it would be critical to split those out into different expense ledgers for accounting and understanding purposes. EQBM obviously has a much more simplified Financial statement this this could be perfectly normal and proper for all I know? Have you done accounting statements before for a pinkie?
To me it is obviously a good thing if they have legitimate things they can use as goodwillwrite-offs regardless of how it is classified. If a Canadian Revenue person asks them for clarification of the expenses then I can only assume they would provide the info on what they used for the write-off. Worst case is they would not be allowed to use the write-off and would have to pay taxes.
Again, I see this thing as a positive after hearing the explanation, not a negative. No doubt it could be handled accounting wise more precisely, but so could every PR, and the website for that matter. The bottom line on the expense is if it is legit like they claim it is to be able to avoid taxes, and indeed is a non Cash flow item not needing to be paid back then it sure seems like a great deal to me.
To the other poster I did talk to Larry after the Financials came out. I already posted what I was told.
These are only my opinions and takes though. Obviously there are others that are negative on things I see as positive. Such is the market place.
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