Replies to post #7791 on Asberry 22 Holdings Inc (ASHI)

[bernardsamuel]

BobKS and HM, I'm sorry if I'm being repetitive here and the concept has already been rejected such that I should not bring it up again, but the CPA firm whose name is on the final 10K (Hall & Company) might be inspected by your lawyer to see if it might be a source of some relief for the shareholders:
1. The audit opinion letter is patently faulty - see the sentence "As discussed in Note 2 to the consolidated financial statements, the Company has no revenues..." Note 2 says nothing about the manufacturing mess, and of course VHUB had record revenues in its FY2015-16.

2. The opinion letter is dated October 13, 2016, and even the Subsequent Events section of the audit report is silent as regards the manufacturing mess.

I would imagine that, in the case of any finding against the CPA firm, the CPA firm's liability carrier would likely go after VHUB and/or its CFO and CEO for having misled the CPA firm.

As ever, I'm not a lawyer, I've been retired for more than four years, and I didn't supervise any financial function for the last nine years of my career when I was serving in an aspect of healthcare regulation. So please just take these thoughts as you would the first step of a brainstorming exercise.

In whatever way you proceed, I wish you only success and satisfaction.

[HombreMuerto]

Bob,

They left themselves open to future litigation. They can really only blame themselves for that. They had lawyers all around them giving them advice, but I don't believe they followed it to arrive at this junction.

Would you advise a client to do this? This is a mess. They have alienated their shareholders perfectly.

They treated the offer like it like it was an inconvenient distraction that they quickly dismissed to continue on the path to "failure". That decision needs to be scrutinized in light of their duties to shareholders.

A lawsuit is one way to learn why. If a lawyer is willing to take it on a contingency that is the way to do it.