TAP Real Estate Technologies Inc (RWAX)

[TenKay]

“Steel slag a new word for you“

Did you read the 10K? Wasn’t my word….lol.

As for the balance sheet…right now the “asset” has zero net value any way you cut.

Just like if they didn’t own it because they haven’t paid for it yet…or if they had impaired the entire value of the asset.

I think there is more going on than just the share issuance. If they had paid for it and that liability was moved to the equity part of the balance sheet then the auditors would have to have dug a lot further than just that “valuation report” which is likely the same one from 2017 that Ybyra’s auditors referenced.

And they would have been unable to provide an opinion just like Ybyra’s auditors couldn’t.

That little accounting twist bought them a year before they have to revisit it with their auditors.

As for selling it…I wouldn’t hold my breath. It was booked as a long term asset and appears to have been around since 2017. Notice they referred to FinCapital and a “previously dormant” entity? That’s another clue.