RE:ADCO purchase for about 5 millionIsThatYouDaryl wrote:
Froggy can you tell us the assets of the aquisition.My source tells me they had about 2.5 million in assets mainly inventory and the other 2.5 million was goodwill.So they own no property no buildings just flog tobacco products out of a rented warehouse or less........Where and who got the goodwill money in that deal......
If your source is right that HLND didn't own their warehouses and distribution centers that would explain why TAAT was able to purchase a profitable company with revenues of $84 million for only CAD $6,604,000. Many posters here believe that TAAT was refering to a Gross Profit and HLND's Net Profit was actually negative. TAAT has not released any HLND audited financial statement information pre-purchase so the speculation continues.
The information coming from TAAT is starting to smell real bad.
In My Opinion the TAAT flavored hemp cigarette experiment has already failed.