Notice to Subscriberholders: Change in Accounting Principle from GAAP to SAAP

by Mr Juggles

Long or Short Capital has been conforming to Generally Accepted Accounting Principles (or GAAP) for all financial disclosures up through May 2006. However, beginning in June 2006, Long or Short Capital will be changing to Seldom Accepted Accounting Principles (or SAAP). While we acknowledge that most of our readers and subscriberholders invest most commonly in companies using GAAP, we have come to the conclusion that our unusual equity structure requires SAAP to more accurately portray our financial strength. Our previously stated financials are not to be relied upon. We will be issuing new guidance shortly which we expect will be signficantly higher than past results.

Our statements will continue to be audited by the Cambridge, MA based accountancy Dewey, Cheetham, & Howe.

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