General standards were applied in financial reporting and...
Those standards do not require technical training and proficiency...
In a nutshell...
Whether there is a reasonable possibility that the company's controls will fail to prevent or detect a misstatement of an account balance or disclosure; and the magnitude of the potential misstatement resulting from the deficiency or deficiencies...
Disclosures are CYA's.
When a Company's basic filings are 'Unaudited' it's a Red Flag and convoluted considering their recent proclamations.
Earnings are the "bottom line" when it comes to valuing a company's stock... They have zero!
The other alternative would be book value of the company, its net worth...
If investors take total assets minus its total liabilities...
This is how much the company would have left over in assets if it went out of business immediately.
Another alternative to valuing a company is price-to-book ratio (P/B ratio) which is determined by taking the company's per share stock price and dividing by the company's book value per share. This one is going to be a shocker!
Simply put...
My point with the 10-Q...
During a specific period of time, all public companies are required to report their earnings on a quarterly basis through a 10-Q Report .
Earnings are important to investors because they give an indication of the company's financial health, its potential for growth and capital appreciation.
They have ZERO!
Which is why no one wants to produce realistic calculations using the known variables...
It's much easier to mislead investors touting 'PR Hype and Potentials' without including the following:
Operational costs, Financial obligations in both companies to Corporate levels, Taxes, Royalty payments, and the conversion of the Cedi to US Dollars.
Of course they continue to overlook the obvious...
"The company isn't foreseeing any profitability in the near future" as per their own statements in filings.
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