Post by
MARKOPOLIS on Nov 17, 2023 8:47pm
HOW I UNCOVERED SOT ISSUES AND RAISED THEM
1. rapid growth in business ( always buying flipping properties)
2. the need for additional debt or financing (refinancing issues issuance of debentures)
3 inability to repay debt( see covenant issue in this earnings STMT)
4 significant related party transactions ( SLAM cherry pickimg properties from cominar leaving the lesser properties for SoT)
5 dominant management ie SOT board and officers all are SLAM folks
6 weak governance structures ie as TD analyst always said in his report as a risk was external manager SLAM
7. Complex organizational structUres see "clean the Slate " Armoyan presentation
8. complex transactions that involve interNantional transactions SEE Ireland properties
9. using intermediaries to do business extrenal manager SLAM
I sent this to Armoyan for his analysis....I really thought this would have made an impression...I respect Armoyan and think he is a legend. Im sure he had his reasons (green Mail?) maybe