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Post# of 729630
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MadBadger

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MadBadger

Re: newflow post# 702881

Sunday, 02/05/2023 4:43:33 PM

Sunday, February 05, 2023 4:43:33 PM

Post# of 729630
Coincidentally I was just having a discussion about SPAC and IPO regarding another company that was used to forego the IPO process.
NAKD and CENN.
The former management, CEO and Directors took the Company Private under the Guise of an Acquisition and sold the assets to themselves for about $2.84. Bentons and assets and Fredricks of Hollywood and it’s asset and Got a $10 Million Dollars Loan Debt that was not on the books before the Acquisition Paid Off by the Merging Company and it was totally Legal and they Figures out a way to Transfer the Asset to themselves and take the Company Private.
At the End the shareholders are holding the Empty Bag!
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