Conversion Solutions Holdings (fka CSHD)

[SammyTheBull]

Not really. They have to reserve customer deposits, just like an Insurance company has to reserve against claims. Those customer deposits are recorded as liabilities on their books, against the assets.

In CSHD's case, they don't have the liability because it's a trust and the asset belongs to everyone else other than CSHD. There's no liability recorded. And since they haven't hypothecated any securities against it, there's nothing to record.