Replies to post #45384 on SPOOZ Inc (SPZI)

[ThSeeker]

Great MC thanks for the clarifications. Thought it would be something like that. Excellent.

[alliecorp]

Well done MC...thanks for the clarification :)

[annie m]

MC, many thanks for your efforts and not letting this story get legs.

[songbirdia]

Thanks for the report, MC.

I'm trying to figure what caused the sudden spike in pps this afternoon following the PR. There wasn't too much new information
for those of us who have been following the company. Perhaps new investors?

[Traderfan]

MC, how can that be outdated information when it is in their latest financial report???

[Mike Fletcher]

When the audited financial statements are issued, I imagine we will see the actual issuance of the 120 million shares being reported in the subsequent events confirming Paul's assertion that the shares were issued in January 2008. In addition, I imagine the revenue reported for 2007 will change as the unaudited financial statements have recorded the revenue on a cash basis which is not GAAP accounting.

Additionally, I owe Diabolic an apology. I think it was Diabolic who asked when people thought that the Q4 2007 results would be released and I told him not until the audit was completed and I obviously was wrong. My apologies Diabolic.

Although, I wish they would have waited to release the results until the audit was completed as I suspect the 2007 revenue reported on the audited financial statements (accrual accounting) will vary from the revenue reported on the unaudited financial statements (cash basis). Also, the subsequent events of the audited financial statements will show the issuance of the 120 million shares in January 2008, assuming Paul's statement is accurate, which would have eliminated any concerns about the shares actually being issued.

[phillymike]

Excellent. Other than that, for me anyway, the financials/disclosure statements are very thorough. Now the company just needs to beef up the "good" figures with subsequent disclosures.

Thanks again for obtaining clarification on this issue.

[Gmenfan]

Thanks MC for sharing the conversation you had with Paul. Hopefully that'll put restless minds at ease.