Looks like 2create, Wes, you and me are on the same page. Unfortunately, it was a case of "less being more."
In his rush to give us info, the posting of a summary of precise numbers raised more issues than they answered.
I think it was an opportunity for many of us to buy. Seems to be holding nicely at the .27 level.
The idea was to show that they have approx $40 in assets per share. The convoluted accounting didn't help. It would have been better to issue a PR that said "we estimate the value of our assets per share at $40."
By using the word "audited," they created an expectation that GAAP type accounting would be displayed and it was not. GAAP accounting would have assets listed at cost, with an offset to cash, payable or contribution to capital. The liability side of the summary makes no sense and hurt the share price.
BOTTOM LINE - for me is that even if we take some percentage of that 4 billion, right now we have a company with a market cap that is a tiny fraction of even a reduced asset value.
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