pacific iron ore

Found a site with PIO archived doc's. Found this from their August Interim Financials report.....Yes they're talking about MEGA!

Marketable securities consist of equity securities over which the Corporation does not have control or significant influence.
Marketable securities are designated as available for sale and valued at fair value. Unrealized gains and losses due to the period end revaluation to fair value, other than those that are assessed by the Corporation to be other than temporary losses, are recorded as other comprehensive income.

In June 2010, the Corporation optioned the Separation Project to a private company in exchange for 990,901 common shares of the purchaser. The arrangement is conditional upon a number of factors including the obligation for the purchaser to gain a public listing on a recognized exchange prior to May 19, 2011.
The Corporation continues to hold the Separation Project in its mineral property accounts until the final conditions of the sale are satisfied, after which the investment will be accounted for as a marketable security. The Corporation subsequently granted an extension for the closing until August 31, 2011.


Curiouser and curiouser cried Alice!