Heels, Duh! Duh! LOL! $682 million of those alleged assets come from a promissory note. They can legally carry that note on the balance sheet as an asset but they haven't been paid for the preferred shares yet. We don't know when they will be paid either.
If you remove the $682 million plus a couple more questionable entries (by me) from the assets on the balance sheet, it comes out they have about a million in assets. I doubt it's even that much.
Plus, if you remove the interest on the promissory note under revenue on the income statement, the company actually lost money last quarter. They haven't received that interest yet either.
So where's the cash coming from to buy all those properties? Ah, I know, from all the stock the company's selling! LOL!!
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