Just about everything is NQR with this company, but what was confirmed is that money was paid over for a purchase of cattle and 2 years later the legal ownership is still in the hands of the original owner. No money has flowed to the company in that time.
Our own investigations have evidence that cattle was recently sold off the property at a lower than normal price that we believe was due to either the urgency to raise cash or because the heat is heading towards the board.
The Chairman was unsure if the sale included stock the company had paid for...go figure...
But they have $150 mill on its way that one director said was in the bank account and had seen the bank balance in 2016. As of today that money is still on its way and so close it now has its own smell...
IMO. DYOR
PDF Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held