RE:RE:CREST CLARIFIES ISSUE AND ESCROW OF PERFORMANCE BONUS SHARESAgreed looks like total drivel to me.
How you can value shares of OPW for disposal at .20 when they are trading publicly at .65 , looks very problematic.
This is neither Fair Market value for the coproartion (so understating asset value) or the recipients who have an immediate capital gain upon receipt of these shares. 2,000,000 shares at a differnce of .45 cents is 900,000 $
So the company is understating these assets by 900,000 , how is this going to be reflected on Financial statements ? Your guess is as good as mine.
From the news release to date sounds like they will be trying to show these as a bonus at a value of 400,000 instead of the FMV of 1,300,000
The same is true for the other companies they are disposing of shares in, so it is a bigger issue than just the OPW values.
Looks like they have created a signifcant mess for the Crest, their directors and shareholders.