"Basically, in order to comply with the SEC regulation, TAUG needs to "spend" the remaining cash balance on hard assets, not more investable securities."
Even that won't solve the problem. Based on the 10-Q numbers:
Investment trading securities = 357,913
To avoid the inadvertent investment company designation they would need to have ~$900,000 in non-cash assets.
It's pretty tough to buy $900K in assets with $715K in cash.
"which may include acquiring assets with our cash and cryptocurrency on hand or liquidating our investment securities or seeking a no-action letter from the SEC if we are unable to acquire sufficient assets or liquidate sufficient investment securities in a timely manner."
They basically HAVE TO buy some assets and sell some investments.
But they left out another method by which they might reduce their exposure...the investment values could significantly deteriorate, helping the math.
I'm sure the CEO has a plan. The old one....avoiding any actual operations...may be failing him.
But can it core A apple?
Yes Ralph, of course it can core A apple.
