Aluf Holdings Inc (AHIX)

[Maria56]

Rather hard to tell what the truth is. The Q2 from last year showed that 6 billion shares were issued in March and 4 billion were converted to preferred in May and June before the August reverse split.



However, the Q3 from last year shows that 6 billion were issued in March, none were converted or "returned to the Treasury" before another 5 billion were issued in early September of which 4 billion were canceled later that month. Hmmm....6 billion plus 5 billion equals 11 billion. How do you even do that when only 9 billion are authorized?



Furthermore, the Q3 states that there were 6 billion shares outstanding as of the end of September, so whatever really happened to those shares, they did NOT go back into the Treasury. In fact, as of March 15th, 2015, OTCMarkets shows Outstanding Shares at 8,545,207,089 and Authorized at 8,964,324,990, which means Waffer's treasury stocks total a mere 419,117,901. One can only wonder if the float is really 42 million, especially in light of 520 million shares trading on one day in October post reverse split.

One thing is clear. Waffer's accounting sucks. Perhaps not as badly as Roger's, but pretty impressively poorly all the same.