Daily Journal rebuts Buxton Helmsley's accounting allegations; defends expense treatment

DAILY JOURNAL CORP

Company states Audit Committee, accountants, and third-party experts confirm software cost expensing is correct under ASC 985-20.
BuHeUI and CEO Alexander Parker demanded 15% of stock price appreciation, two Board seats, and CEO/CFO resignations.
Company explains SaaS firms like Tyler Technologies and Galaxy Gaming likely capitalize under ASC 350-40 (internal-use), not ASC 985-20.
Daily Journal says its software is licensed to courts/governments (external-use), so capitalization window is too short to be material.
Company calls on Parker to cease what it describes as self-serving attacks based on a mistaken accounting assumption.

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