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Gold/Mining/Energy : JAB International (JABI)

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To: Roebear who wrote (3054)	2/20/1998 7:42:00 AM
From: Lionel Gosselin	Read Replies (3) of 4571

In response to the gold revenues and where are they?? BCMD had approximate Gold revenue of $75,000 to $90,000 for the quarter which has been posted against expenses. This is the accounting procedure which has been used in the past. There will be a change in accounting procedure at the year end. The reason that the accounting has been set up this way is because BCMD has never generated enough revenues to be profitable and all gold sales previous were posted against expenses. Note also there was $31,670 in inventory, which is jewellery grade gold not yet sold. The stockpiled ore has not been included in inventory. Lionel

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