RE:RE:RE:RE:Vertical scope Yes you are correct MW. Did speak to quickly. Just checked. However my accounting theory still applies. The cayman island assertion comes from Don another poster here.
as an accountant by profession you would normally consolidate a 56 percent acquisition. The fact they went to so much trouble to set this up in this manner means something smells in Denmark. It is an effective way to hide your debt from the balance sheet. Took another look at cash movements in vertical scope and do not believe they can support debt. Also we have no details on debt. What rate are they paying??? Given business is to buy enthusiast websites can't see lenders being so eager to lend at favourable rates. What assets back up this debt.
Just throwing caution out there to new shareholders. While I have been out for over 2 years now I still follow Torstar and am a customer.