the kid raised about 500k to buy the assets. he knows the money was gone, so all he was trying to do was get something. thats why he struck a deal to sell those assets for SOMETHING..rather then be left holding nothing for shareholders. what dont you get on this?
with regards to your fixed assets -- Stock is recorded as a fixed asset when there is no liabilities against it. the assets were stock not any type of property or equipment.
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