"Rawnoc" responds to naysayers' comments about JBI's media credits

I say "written down in 2010 anyway" because that's the way ALL current assets work. As they get used up, they get expensed. The media credits were listed as current assets which means they expected to used them over the next year, that year being 2010, and get expensed as used just like you do with prepaid insurance, inventory, office supplies, etc.

"credence to the fact that they knew the credits were overvalued." Hogwash! Expenses are expenses. As they use say $100,000 in media credits to buy $100,000 in media, they were then going to expense $100,000 in media and show up on the income statement as a $100,000 non-cash media expense, and as the whole $10 million is used there would be $10 million in expenses at various amounts throughout 2010. The notion that they were going to expense the media credits as the media credits were used is some sort evidence of fraud is just laughable. There was no fraud. At worst, a non-cash accounting journal entry that should have been done in 2009 instead of in 2010. Boo hoo. You have to split hairs into a million pieces to come up with some sort of a fraud picture.
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