Replies to post #884 on Institutes of Biomedical Research Corp (MRES)

[ron2000]

Is there a contact number that's current or email where you can talk to a person?

[Lexit]

The SEC wasn't impressed with MRES "accounting" methods.

3. We note that the license represents approximately 90% of total assets at June 30, 2010. We note you recorded a significant impairment charge of $51,660,000 to bring the value of the value of the licenses to $615,000 in the first quarter of fiscal year 2010. In light of the significance of the remaining license balance, tell us and revise to disclose in future filings your impairment testing policy. The disclosure should provide investors with sufficient information about management’s insights and assumptions with regard to the recoverability of the licenses. Refer to ASC 350-30-50-3

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