The auditor confirm, money was in the bank when the audit occur. He confirm directly with the bank.
either the $50 mil cash is real,
or the managing director is very stupid. Borrowing money from somewhere and depositing it for short term just to make appearance they have the $50 mil cash in the bank. In which case, if this cash goes missing they are liable for it, the cash they don’t have in the the first place.
Hence, i think it is likely that they do have the $50 mil cash.. but it is being use as revolving capital..
as for the father? why did he transfer the shares? probably have huge gambling debts he need to pay to the mafia in macau ??
XPD Price at posting:
3.3¢ Sentiment: None Disclosure: Held
