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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K

and cost plans.

and

timing,

impact

and

other

uncertainties

of

our

future

acquisition

ITEM 7A. QUANTITATIVE AND QUALITATIVE ANALYSIS ABOUT MARKET RISK ----------------------------------------------------------------

Cash and Cash Equivalents

We have historically invest rate, highly rated and high mature throughout the year.

at risk

with

respect

to

instruments,

our rate

of r

the time of

reinvestment as

we had cash

and cash equiva

ed our cash an ly liquid ins Although our changes in eturn on short a result of i lents aggregat

d cash equivalent

truments

which ar

existing

investme

interest

rates o

  • -

    term

investment

ntervening

event

ed

$1,113,911.

s in short-term, fixed e reinvested when they nts are not considered r markets for these s could be affected at

s.

As

of

December

31,

The Company does not is derivatives for trading or

sue or inves speculative p

t

in

financial

urposes.

The

ope

instruments

rations

of

the

or their

Company

are

conducted

primarily

in

foreign

currency

exchange

related

interest

expense,

States is currently not mat

the United St risk. Althou market risk erial.

gh

the Company ha

of

interest rate

ates,

and,

are

n

ot subject to

material

s outstanding

debt and

exposure

in

the

United

Debt

The

interest

rate on our

determined

to

market

based on the

fluctuation

as

pr th

Impact International debt obligation is generally ime interest rate plus two percent and may be subject e prime rate changes.

  • -

    29-

ITEM

8.

FINANCIAL

STATEMENTS

AND

SUPPLEMENTARY

DATA

----------------------------------------------------

TABLE OF CONTENETS

INDEPENDENT AUDITOR'S REPORT............................................. CONSOLIDATED FINANCIAL STATEMENTS: Consolidated Balance Sheets....................................... Statements of Consolidated Stockholders' Equity................... Statements of Consolidated Operations............................. Statements of Consolidated Cash Flows............................. Notes to Consolidated Financial Statements........................

3

4 5-6 7 8-9 10-30

ITEM

9.

CHANGES

IN

AND

DISAGREEMENTS

WITH

ACCOUNTANTS

ON

ACCOUNTING

AND

--------------------------------------------------------------------------------

FINANCIAL DISCLOSURE. -------------------------------

None.

ITEM 9A. CONTROLS AND PROCEDURES. --------------------------------

(a) Evaluation Of Disclosure Controls And Procedures.

As of the end of the

evaluation,

under

the

reporting

period,

December 31,

2006,

supervision

and

with

the

participation

we carried out an of our management,

including Accounting

the

Company's

Officer,

of

the

Chairman and effectiveness

Chief Executive of the design and

Officer/Principal operation of our

34

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