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Tuesday, October 20, 2009 1:19:02 PM
So your understanding is that the merger was intended to allow SNWT to go public with the non-operational corporate shell of HBSY. I had thought that it had been the other way round, thought that SNWT had acquired another set of shady projects to spin their "we are a great company with wonderful prospects" scam. Makes sense. Look like I have been wrong here.
If SNWT is now really governed by a new management and Harry Masuda is simply administrating HBYS liabilities and assets, the concern of stock fraud is alleviated.
However, one aspect still smells a little fishy: Why did the new management get involved with fraudulent stock operators, paid them large sums of money in the best HBSY tradition (actually more than estimated net profits)? Is this simply Harry Masuda's unfortunate influence or is something else going on?
What do you think?
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