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Gold/Mining/Energy : REX DIAMOND MINING TSE:RXD
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To: virginijus poshkus who wrote (1432)5/23/1999 9:14:00 PM
From: Dave Duggan  Read Replies (2) of 2522
 
If someone writes off an asset then they are valuing that asset at zero dollars. In other words this is what happens when inventory is stolen or deemed to be worthless.

Another accounting concept is called matching. It is accounting policy to match revenues with costs. Normally you hold assets in inventory until you sell them. The inventory then moves to the cost of goods sold account to be matched against revenues.

I have two questions
1) Why is serge buying more stock - obviously he thinks he can sell it for more at a future date. What does serge think he is going to make money on? Were not the two large diamonds found in Sept or Oct 98. I admit I have not spent hours researching this stock. I will do some more.

2) If serge sold or intended to sell a lot of stock would he have to file an intent to sell on the www.sedar.com site?

Dave Duggan
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