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Strategies & Market Trends : Fatty's Donut Shop -- Ignore unavailable to you. Want to Upgrade?

To: Matt Brown who wrote (1061)	5/6/1999 5:48:00 PM
From: Matt Brown	Respond to of 5041

GOprofit.com SEC filing > GOPROFIT.COM, INC. NOTES TO FINANCIAL STATEMENTS NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNature of Operations The Company was incorporated on March 3, 1999 under the laws of the state of Nevada. The Company has been formed to design and build a world-wide internet based investment research service portal. The company expects to begin construction of the web site and proprietary search technology programming within 30 days. Completion of the web site and search engine programming is projected to be completed within 60 - 90 days from the starting date. The Company will be supported by advertising revenues generated from the use of the financial information search portal which revenues are to be brokered by a third party. The Company is in the process of completing merger negotiations which will provide for short term working capital and assistance with the filing of a SB-2 Registration. These planned steps will allow for the implementation of the Company's business plan described above.Property and Equipment Property and equipment are carried at cost. Depreciation of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the following estimated useful lives: Years ----- Machinery and equipment 3 - 10 Furniture and fixtures 3 - 10Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principals requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.