Replies to post #32768 on Meso Numismatics Inc (MSSV)

[Toxic Avenger]

Fascinating ER.

Is this even legal? "During 2004 and 2005, the Company loaned $1,711,000 to various consultants / executives to purchase 71,750,796 common shares from Treasury. The loans are non-interest bearing and as of September 30, 2015 and December 31, 2014 have not yet been collected. Company management is actively pursuing the collection of these receivables but is unsure at this time how much will ultimately be collected."

[Toxic Avenger]

As of the first quarter of 2015, the Board of Directors decided that the best course of action would be for the Company to divest all of its real estate holdings. Specifically, the Company unwound its acquisition of properties purchased from Global Asset Management Holdings’ in Bahia Encantada. The Company had incurred losses during the past year.
Rental revenues $ 25,942
General & administrative expenses (217,042)
Interest (688,876)
Write off of investment (330,901)
Net loss discontinued operations $ (1,210,877)
During the nine-month period ended September 30, 2015 and the year ended December 31, 2014, losses from the Company’s real estate holdings in the condensed consolidated financial statements were approximately $505,300 and $706,600, respectively.

They unwound $2.7 million worth of ownership interest and received $0 for those properties? Hmmmm.