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Non-Tech : London Pacific Group - LPGL doubles...
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To: maven2010 who wrote (151)4/15/1999 7:53:00 PM
From: DwcOkla  Read Replies (1) of 737
 
Maven,

The Security Exchange Laws in the U.S. must be followed if a Company, even a foreign one like LPGLY, is listed on a Public Exchange like the NASDAQ.

If it is listed, it must follow U.S. laws regarding audits, and therefore must be audited annually in accordance with Generally Accepted Accounting Principles (GAAP).

For you to infer that there is something underhanded about their accounting methods is slanderous.

The method you speak of is legally used by Investment Capital firms, because their performance is based on how well their investments are doing... So therefore at the end of every Quarter, and at every year end, they must "REVALUE their Assets" to current Market Value.

I think you should go back "into the shadows" and read something about GAAP accounting and how the SEC can sanction any company not following GAAP.
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