RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: Inabilitytaman - it doesn't have to be "all or none." Surely, there a trees, cash, etc. But using the argument that they would have gone bankrupt already if it was a fraud demonstrates you aren't seeing what the big concern here is. TRE has consistently accessed debt and equity markets, and what Block (and others) are stating is that is how operations have continued - and they point to the absense of free cash flow and dividends as circumstantial evidence to support this point.
I would forget about CB and more "ammo" - even if he had it, there is no point in him sticking his neck out further - the damage is done. What he said he thought would happen is effectively happening. He is not immune to legal action - but, I don't think he is really in any danger of ever having a successful lawsuit against him, but why tempt fate? He will sit back and nod and say "I told you so" as this unfolds, notwithstanding the errors people pointed out in his report. As I said, if he is 50% right, TRE is all done.
I hate when people do math and say if everything is overstated only 20%, if you take their remaining assets, cash and take out debts, they are worth so much. Fact is, a material intentional misstatement, is a death blow - the debts will be called in and TRE will not have the cash to meet these demands, hence the $1.35 ending price on SNOFF, which if trading continued, I firmly believe would be 50 cents right about now. Maybe lower.
And why did Chan resign if everything is fine - he would refuse - he started the company and built it into a multi-billion dollar corporation. If it is for optics, it did exactly the opposite as intended.