From: "SnowDog" <[EMAIL PROTECTED]>
> > I wouldn't be so sure, Craig. The Examiner page really seems to be
saying
> > this:
> >
> > Assets of E-Gold SP Trust: 1,952,954.93
> > Liabilities of E-Gold SP Trust: 1,933,848.72
> >
> > Therefore, any balance sheet that includes these numbers would have to
be
> > the balance sheet of E-Gold SP Trust.
>
> I can't agree with that. The balance sheet for the Trust, (if there is
> one), would HAVE to balance. The trust wouldn't have any unaccounted
assets.
My wording was very careful, Craig. I said that any balance sheet that
INCLUDES these numbers would have to be the balance sheet of E-Gold SP
Trust. I didn't say the page WAS a balance sheet. By your standard, no
company would qualify and therefore your answer (e-gold Ltd.) would also be
incorrect.
Also, the Examiner page clearly lists Assets OF the E-Gold Special Purpose
Trust. Therefore it is reasonable to assume that the Liability column also
refers to liabilities of the Trust.
JP is suggesting that the balance sheet for the Trust might currently look
something like this:
-- BALANCE SHEET FOR E-GOLD SPECIAL PURPOSE TRUST:
Assets: 1,952,954.93
Liability to e-gold account holders: 1,933,848.72
Liability to other parties: 19,106.21
Equity: 0.00
We are of course speculating as to who the "other parties" are, but
nevertheless this is a possible balance sheet.
JP is also suggesting that this balance sheet is in direct violation of the
User Agreement. Even if this is true, it is still a possible balance sheet
for the Trust.
I think JP would be much happier with the following balance sheet (and it is
important that JP be happy):
-- BALANCE SHEET FOR E-GOLD SPECIAL PURPOSE TRUST:
Assets: 1,952,954.93
Liability to e-gold account holders: 1,952,954.93
Liability to other parties: 0.00
-- where all the "other parties" have gotten off their asses and
opened up e-gold accounts
Equity: 0.00
I think this is a good idea, too.
-- Patrick
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