It's actually Less than 3% ,,,
and probably less than 2% , Today, and Always shrinking.
But, it really does not matter, because 100% of zero$
has the same cash value as 2% of zero$.
swvc's 'actual cash value' is even less than zero$.
Every 'business' that swvc 'owns' Loses money, if All
of swvc's 'overhead costs' are properly allocated.
Hacketts is a perfect example. swvc's CEO thinks that he
is fooling WF into believing that Hacketts might be
'profitable' [in the 4th Quarter, Only]. But, it Only
appears 'profitable' because Hacketts DOES NOT PAY IT'S
'FAIR SHARE' OF swvc's CORPORATE COSTS, [which All show
up on the 'bottom-line' , as defined by the IRS]. These
shifted-away costs include :
1] All Corporate salaries + bonuses, including the CEO's
$500,000++ per year, and the COO's, and all other swvc
employees that don't work 100% direct, as workers in
Hacketts and/or NCH's stuff [whatever that is].
2] All Interest, paid constantly, on All CD's, and maybe
even on the WF loan [who knows].
3] All Interest paid on the used-to-be-real Mortgages on
a few of the Hacketts buildings.
4] All legal + accounting costs, and maybe even the Hacketts
advertising costs.
5] All IR costs, and other fees paid for 'outside services' ,
which will eventually [if not already] include fees that
will be paid to the COO's personally owned 'outside' shell
companies. Like, the one that charges 'franchise fees' ,
and, the one that charges a fee to buy anything that the
now-swvc-'owned' NCH stores used to buy All By Themselves.
6] And, who knows what other of Hacketts Real+Direct costs.
But, WF apparently does not care, yet, because, WF makes
swvc report financials, ON TIME, EVERY 30 DAYS. And, most
importantly, ALL OF HACKETTS INVENTORY IS COLLATERAL FOR
THE WF LOAN. NOT just the inventory that Hacketts bought
with the WF loan.
Now, back to the original point. What do All of swvc's
common 'share'holders actually own?
Well, not only do they 'own' Less Than 3% of whatever swvc
is supposed to be 'worth' , as an always-money-losing
'business' [which is worth Less Than Zero$], with huge debt
[all short-term + high interest], and hardly any 'assets'
that could be sold for cash [like, used furniture, if that].
But, even worse, the common 'share'holders, ONLY, are
diluted constantly, while they PAY ALL COSTS. And, in the BK
crunch, they get PAID ABSOLUTELY LAST, AFTER EVERYONE ELSE
IS 100% PAID OFF FIRST.
All of this did Not have to happen; but, it already did;
and will Never be reversed. swvc sold over 1 Billion new
shares, to common 'share'holders, for an average of about
3 cents each. That's $30 Million, All cash, and All paid
by ONLY buyers of New swvc common 'shares'. And, ALL of that
cash is now Gone, and even some more, including the $5 Million
borrowed from WF. And, none of that cash bought any 'assets'
that have Any Cash Value. It just paid-off ~$20 Million in
old loans 'hidden' in a shell [that would cost 99% LESS,
if built from scratch, and with No toxic contamination]. And,
it 'bought' the always-money-losing WizeGuyz, directly from
guy who now still 'manages' to make them [and more stores,
just like them], All lose more money, faster. And, it bought
all of the money-losing parts of NCH. And, keeps paying the
inflated salaries of the 2 geniuses, who only know how to
'operate' cash-burning 'businesses' , while transferring all
unburned cash to themselves, by removing it, ASAP, just before
it burns up, [which is right after All of the swvc common
'share'holders get burned].
Finally, if All of the above is not enough to convince the
longs that they have nothing of value, and never will; there
is 1 last piece to this pie. The greedy CEO + friends + family
own 97+% of the pie, and their piece keeps growing, and, if
anything goes badly, they take the FIRST 100%.
And, some of the longs are still happy to 'wait' , and watch,
and hope, that there is another 'hidden' piece of this pie,
that the proven-greedy-misManager genius, will just give them,
for free, sometime, maybe. Fat Chance, that any commoner will
ever get fat from seaweed pie. [After they paid for all of it,
in cash, in advance.]
extra, Sincerely. But, just opinions, based on Facts.
P.S. ; In less than 24 hours, the U.S. version, of the last
inning, of the seewas play-outs begins. Just for fun, check
the non-U.S. trading of swvc. It's no Holiday for them, or
any swvc long.
AI
