Gaap
1)Principle of Regularity
The accountant has adhered to GAAP rules and regulations as a standard.
2.) Principle of Consistency
Professionals commit to applying the same standards throughout the reporting process to prevent errors or discrepancies. Accountants are expected to fully disclose and explain the reasons behind any changed or updated standards.
3.) Principle of Sincerity
The accountant strives to provide an accurate depiction of a company’s financial situation.
4.) Principle of Permanence of Methods
The procedures used in financial reporting should be consistent.
5.) Principle of Non-Compensation
Both negatives and positives should be fully reported with transparency and without the expectation of debt compensation.
6.) Principle of Prudence
Emphasizing fact-based financial data representation that is not clouded by speculation.
7.) Principle of Continuity
While valuing assets, it should be assumed the business will continue to operate.
8.) Principle of Periodicity
Entries should be distributed across the appropriate periods of time. For example, revenue should be divided by its relevant periods.
9.) Principle of Materiality / Good Faith
Accountants must strive for full disclosure in financial reports.
10.) Principle of Utmost Good Faith
Derived from the Latin phrase “uberrimae fidei” used within the insurance industry. It presupposes that parties remain honest in transactions.
I believe ever since Sgmd exercise their option to buy bzrth .
The deal completely Became complexed . I believe Biz wanted Sgmd to take full
Ownership of bzrth now for whatever reasons . Now sky has to find
A language in the agreement or gaap that works with biz and the Sgmd deal.
This totally make sense . Sgmd will probably have to spin off bzrth and carryout supplies
At one point in time.
This is why jimmy has been quiet for so long .
I do believe biz right is a slam dunk . But now they create a complex agreement trying
To get all these companies together on the same page .
I do believe we started recognizing some revenue from biz and not from sky yet .
Budlife May also be playing a part since it's speculative .
I believe at the end of the day one deal will get done .
40 million revenue or higher. 650 million outstanding shares .
Market cap of 35 million about and price to sales of less then one time sales.
I don't need sky to get excited here. Sky is definitely added value and it's what We all want
To turn Sgmd into a power house but just bizright and speculative budlife should be 5 x sales to 10 x sales
30 to 50 cents . For jimmy to want to start communicating again
He absolutely has at least biz deal close to fully closed.
Sky deal will get done I think it requires more patients
Rmn
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