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Gold/Mining/Energy : Swing Trading Toronto Stock Exchange Listed Stocks

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To: Vitalsigns who started this subject	12/4/2001 7:44:30 PM
From: Vitalsigns	Read Replies (1) of 2773

Whoa ! this could get interesting How are companies supposed to fool investors that they are growing earnings in the Future? LOL! Most of these companies would make the Great Houdini Proud, look at these loses, Poof, look now, they are profits <ggg> financialsense.com In Other News Today the SEC is threatening to sue companies that have been misleading investors with pro forma accounting. Pro forma accounting ignores the bottom line earnings of a corporation and makes their earnings look better to shareholders and investors. The Securities Agency said that antifraud provisions of current security laws are applicable to a company issuing pro forma financial information. The SEC also warned investors to view pro forma reports coming from companies with a good deal of skepticism. They may lead to misleading conclusions. The use of pro forma earnings has become more prevalent recently in press releases coming from companies, especially in the technology sector. This move by the SEC is an attempt to apply pressure on companies to conform with more acceptable accounting principles rather than the bogus numbers given to investors by pro forma’s. Many Internet companies could be affected by the SEC’s new threat. Specifically, the agency cited the use of earnings before interest, taxes, depreciation and amortization, or EBITDA as a possible ground for fraudulent reporting.

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