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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: Roy F. Baker who wrote (34071)	8/27/1999 9:37:00 AM
From: Suzanne Newsome	Read Replies (2) \| Respond to of 44908

Roy, about 7 substantial posts back (week and a half ago), a basher implied that the fact that TSIG reported $4 million dollars in profit due to VSI filing bankruptcy was an example of inappropriate accounting. Accountants have to follow GAAP (Generally Accepted Accounting Principles), or be liable for charges of misstating a company's financial condition. There are, however, some opportunities for discretion. If TSIG had attributed every possible expense to VSI, and then VSI declared bankruptcy, annulling those expenses, a gain apparently results. I was wondering if anybody else had any insight into this issue. Regards, Suzanne