Chris Hiestand, CPA, owner of Accell Audit and Compliance of Tampa, Florida, had this to say about leaving the $102,300,000 purchase of virtual property in TCG.World on the balance sheet as an asset: “As I mentioned, Meta, along with Crypto and Cannabis, is considered a high-risk industry, from the regulators anyway, and is under heavy scrutiny from the SEC. I believe the transaction you sent us a couple of days ago, the $7.2 Million Nerdland LLC transaction, calls for settlement within 30 days. Since that is the largest and most significant transaction, we would like to see them complete the purchase by making payment before we make a final decision to sign off that we will support the $100+ million remaining as an asset on May 31, 2022, year end. Based on what we know today, we are inclined to support the $102,300,000 purchase remaining as an asset. We should be able to get wrapped up the last week of August or so and plan to issue the audit no later than September 16, 2022, assuming the above transaction settles by then.”
John V Whitman Jr., GGToor CEO, had this to say, “I knew from the start that the auditors would have a challenging time allowing the Company to book our purchase of virtual property as an asset. Accell has done a significant amount of research and has discovered many sales that support the price GGToor paid for the virtual properties, however they have not confirmed the asset will remain although they have said they agree with Tom Bellante, GGToor’s CFO and A-Frame Accounting; so far they have found no reason that it would not remain an asset. If Nerdland LLC. renders payment of $7.2 million, the likelihood is the $102,300,000 remains on the books as an asset; if they fail to pay, it will be much more difficult for the auditors to leave the asset on the balance sheet. I am sure shareholders and those eagerly waiting on this information will be satisfied and anxious as we all wait for Nerdland LLC. to meet their obligation.”
This week, the Company offered four events. The Company’s monthly events for Magic: the Gathering arena and Legends of Runeterra, along with the next event in our regular series for Super Smash Brothers Ultimate and Yu-Gi-Oh! Duel Links - saw 50 more people register for this weekend's event compared to the last in the series- and we expect to see numbers continue to grow for future events!
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