GAAP RULES would indicate the value of the assets are exactly what they ( or the market at the time of sale ), what it sold for. They did not pay $10 million for $40 million.
They paid $10 million for $10 million. There is no doubt that someone lost $30 million in the assets, but what was purchased is worth $10 million. Pretty simple.
Personally, I think it was a great deal for SHMP. Hopefully they won’t tinker with the systems and just restart the process to grow barramundi for instant revenues. Keep in mind, this SCAM has never, ever, not ever, produced a single documented harvest of shrimp. Not ever.
Let’s also not forget we go from plywood membrane tanks, to fiberglass Red Ewald tanks, to quietly glass lined steel tanks. Guess which tanks VeroBlue DOES NOT HAVE ???
Just for fun, let’s introduce electrically charged water into our chemistry experiments.
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