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larrybaz

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larrybaz

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Re: 2morrowsGains post# 112317

Tuesday, 04/16/2024 4:25:21 PM

Tuesday, April 16, 2024 4:25:21 PM

Post# of 113275
GTEC - They took a huge related-party receivable write-down. This from the 10-K:

We recorded a full provision for expected credit losses for a substantial balance due from a related party.

As of December 31, 2023, Cenntro Holding Limited owed us $34.46 million. We do not expect the amount of $34.46 million due from Cenntro Holding Limited will be repaid. As a result, we recorded a full provision for expected credit loss for the year ended December 31, 2023.

I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.

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