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Friday, October 30, 2015 4:01:27 PM
Numbers as important as the appraised asset value do NOT make it onto audited financials unless the auditor is presented with acceptable proof that an accredited third party has made the appraisal.
The fact that the auditor stated the value of the patents is $40m means that a WRITTEN accredited third party appraisal was presented for review and evaluation.
ABSOLUTELY NO AUDITOR would EVER place its name on a set of audited financials and stake its reputation (and license) on something without such substantiation.
The fact that you have not SEEN the asset appraisal document is meaningless.
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