Replies to post #177404 on Eternal Image Inc (fka ETNLQ)

[zomniac]

You are assuming EI had NO knowledge 12 days earlier, at the least ??

That E-Bay thing did not come up at the last moment.
And that was a whole bunch of inventory.

I don't see the outlay for all that merchandise, which should be in this 10-Q. EI doesn't have terms.

450 AKC Urns
250 Caskets
I forget the MLBs

[DonVaBeach]

Doesn't matter, Basser. If the eBay situation could result in a significant hit to earnings, they would have to report it up to the date of filing, under "subsequent events". I guess they felt that there was no exposure, because they reported as follows:

"5. Subsequent Events
In May 2009, the FASB issued guidance now codified as FASB ASC Topic 855, “Subsequent Events,” which establishes general standards of accounting for, and disclosures of, events that occur after the balance sheet date but before financial statements are issued (blah, blah, blah)....
The company has evaluated subsequent events from the period September 30, 2009, the date of these financial statements, through November 23, 2009, which represents the date these financial statements are being filed with the Commission.
Pursuant to the requirements of FASB ASC topic 855, there were no events or transactions occurring during this subsequent event reporting period that require recognition or disclosure in the financial statements."