Nah, it's not "clear" GAAP because under shell acc
Post# of 43064
Posted On: 12/11/2012 8:09:38 PM
Re: techisbest #2536
Nah, it's not "clear" GAAP because under shell accouting you don't record the purchase price you record the value of the asset, just like DOMK did which was a shell.
It was a technicality that JBII was not considered a shell even though every basher still uses the term "John bought a shell" to this very day. If you go back in the filings for se reason in mid-2009 JBII ceased to be considered a shell or the media credits entry would have been fine.
It's a splitting hairs technicality of the upmost extreme.
It was a technicality that JBII was not considered a shell even though every basher still uses the term "John bought a shell" to this very day. If you go back in the filings for se reason in mid-2009 JBII ceased to be considered a shell or the media credits entry would have been fine.
It's a splitting hairs technicality of the upmost extreme.
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