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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: Francois Goelo who wrote (3451)	7/13/1999 1:27:00 AM
From: StockDung	Respond to of 10354

Very good indeed A repost as Franschwa would say By: frisky Reply To: 5359 by AlpineSleuth Tuesday, 13 Jul 1999 at 1:15 AM EDT Post # of 5391 Truthseeker, you have done great dectective work on the country club membership. It appears that the coutry club is in Utah but not in Hong Kong. It appears that the country club is one of insiders' BB babies. Any good accountant reads the figures of those questionable assets knows something is wrong. Because FG and his followers never got it, I like to repeat again: (1) the sum of memebership fees of country clubs of $142,857 and stock held to maturity of $857,143 is exactly $1,000,000. (2) $1,000,000 * 1/7 = $142,857 (round to the nearest dollar) (3) $1,000,000 * 6/7 = $857,143 (round to the nearest dollar) Too much a coincidence, isn't it? (4) $1,000,000+mortgage notes receivable of $250,000 + used computers and printers is close to noncash financing activities of $1,359,449. (5) IMO, stock held to maturity are BB embryo waiting to become a matured baby. It appears that some creative accountants created those figures and assumed that nobody would read and understand anyway. The auditors only have to audit a company's financial statement once a year. Since the 1998 and 1997 financial statements have been audited, ZSUN's next audit is not due until Jan, 2000. No audits are required for interim statements. The diehards keep saying ZSUN will release its "audited" financial statement on July 27. It just does not make sense. It appears that 1998's audited statements are unacceptable for 10KSB. They are trying to find a way to make adjustments. Although, 10QSB does not need an audit, the SEC rule has to be strickly followed. I am shocked that SEC is suing ZSUN's auditor, Jones and Jensen for violating professional standards. You should forward the case to the Utah State Board of Public Accountancy. I am sure that it will take displinary actions against Jones and Jensen. For a gentleman investor, like Blather, you can sue Jones and Jensen for negligence. Each year the accoutning firms pay multi-billion dollar damages to the investors for their rotten audits. Alpine, I like your sense of humor.