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Microcap & Penny Stocks : PLNI - Game Over -- Ignore unavailable to you. Want to Upgrade?

To: Harold S. who wrote (2370)	2/2/2006 8:33:39 PM
From: scion	Read Replies (1) \| Respond to of 12518

There are too many unanswered questions right now outside of any financial data yet be revealed about PLNI to satisfy anyone except the blind faithful. I think any audited financials are going to make very interesting reading, and I'm sure that the firm that took over from Art De Joya firm is even now trying to make sense of the PLNI numbers. How long it will be before the audited financials appear is going to depend on the new rules under SOX, amongst them being the valuing of IP. FINANCIAL REPORTING It’s no longer a matter of making a best estimate. Valuing IP Post-Sarbanes-Oxley -------------------------------------------------------------------------------- Before 2002, identifying and valuing intellectual property (IP) was more art than science. But in that year Congress passed the Sarbanes-Oxley Act and FASB issued new accounting standards for measuring and reporting on intangible assets. In this high-pressure environment CPAs will find IP valuation is no longer a matter of making a best estimate. As regulators begin to seek greater clarity in the asset values of publicly traded companies and require them to make more transparent disclosures, the onus is on CPAs to apply more scientific rigor to their IP valuations. But certifying with mathematical exactitude the full value of intangibles such as PATENTS, brands, in-process research and other IP assets can be problematic. aicpa.org