Stella Diagnostics Inc (SLDX)

[Kool Aid Man]

I'll bet the IRS would find everything "auditable." They're able to look at one's lifestyle and determine whether they're being truthful or not. The Linduff's own (make that, probably have mortgages on) a $550k house in Boerne and a $360k beach house in Port Aransas (Nueces County). That's nearly $1 million tied up in the two properties we know of (not to mention the new office building the Chairman allegedly "owns). Then there are the 15 corporations and various investments parked behind various trusts and corporate firewalls.

All this wealth strikes me as being at odds with someone who filed for bankruptcy protection back in April and listing total assets of "less than $50k."

The spin given is that Linduff did this in order to move a civil lawsuit (default on a promissory note) from state court into a Federal one in order to scare off his creditors (which it is alleged to have been a rousing success). Seems to me that same claim of worth made to a Federal bankruptcy court would be of interest to the IRS (also a Federal agency).

I'd hate to lie to the former and then try and explain it away to the latter.

Even if he wanted to get them audited...they are not auditable for a variety of reasons.