Post by
TAAT2022 on Jun 12, 2023 5:24pm
Let's try this again, very slowly
One must reach beyond Sedar to be fully informed and to put everything in perspective in a factual way.
In as simple terms as can make them:
1) 99.5% of the parent company (TAAT Global Alternatives Inc) liabilities ( on Sedar) are from ONE of their subsidiaries. That subsidiary is TAAT International LLC.
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2) Subsidiary TAAT International LLC is going through the process of reorganization via Chapter 11V. TAAT International LLC has no secured creditors.
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3) TAAT International LLC has about $13 million in liabilities that will be written off via Chapter 11V. $4 million of that has already been written off via a motion filed and granted by TAAT International LLC, this is BEFORE the Chapter 11V process has even completed.
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4) Eventually all $13 million will be written off (TAAT International LLC liabilities) when the Chapter 11V process is complete.
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5) This written off amount is flow through to the parent company TAAT Global Alternatives Inc. Therefore the present liabilities you read for TAAT Global Alternatives Inc is not the correct liabilities amount payable. TAAT Global Alternatives Inc will have next to zero liabilities.
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I hope that was easy enough to understand?
Any questions?
Comment by
TAAT2022 on Jun 13, 2023 12:22pm
Auditor has zero to do with Chapter 11V proceedings.
Comment by
TAAT2022 on Jun 13, 2023 1:09pm
Germany? Last I checked TAAT is not based in Germany.
Comment by
Lingcod on Jun 13, 2023 1:35pm
No, but you are and so is frogzilla. Dont you remember your posts telling us this ? Anyways, back to taat. I see only 3000 shares, went to 20 cents, now another 3000 shares and back to 18.5 cents. With all the news of bankrupcy, little monies, huge debts, investors finally waking up
Comment by
Lingcod on Jun 13, 2023 1:32pm
They are going to be put on a payment schedule over a three year period, possibly extended to five. Bankruptcy doesn’t mean the debt is erased.