Replies to post #127763 on Supurva Healthcare Group Inc (SPRV)

[THall]

SPRV acquired another shell company with 0 assets. Its in the quarterly for those who understand how to read it.

[rawman]

You would not see a building or a list of building on a balance sheet. It would end up lumped in under fixed assets.

BULLSHIT!!!

Contrary to the claim, "FIXED ASSETS" is in fact a Balance Sheet line item! Anything of value a company owns will be listed on the company Balance Sheet, but the SPRV Balance Sheet shows the Company OWNS NOTHING! THE TOTAL ASSET LINE, INCLUDING ALL ASSETS IS ZERO!

SPRV clearly stated it finalized the acquistion of a medical office building on March 15, 2021, which, BTW, was during Q1. Obviously the company's statement was an unadulterated load of crap! The touted building acquisition was not only PR'd, but a similar statement was included in the Q1 Financial Report!

SPRV, combined with its purported subsidiary 1094 Military Trail, LLC, OWNS NO BUILDINGS! NOT ONE!

[rawman]

You would not see a building or a list of building on a balance sheet.

CORPORATE ACCOUNTING 101 (per INC.com):

The purpose of the balance sheet is to reveal the financial status of a business as of a specific point in time. The statement shows what a company owns (assets) and how much it owes (liabilities), as well as the amount invested in the business (equity).

Take note the definition DOES NOT SAY, "Part of the stuff a company owns!"

The Balance Sheet accounts for EVERYTHING a company owns, including BUILDINGS! The Q1 SPRV CONSOLIDATED Balance Sheet shows the Company OWNS NOTHING!

TOTAL ASSETS = ZERO!

[dss19552002]

Buildings are not under current assets, that is correct. I looked that up. So, it should be under property and equipment.

I agree that the quarterly report says the preferred transferred. The date of transfer also appears to be correct.

It is also a fair point about time of transfer being so close to the end of the month, so the building may not have been recorded as an asset until April.

This means that the information in question should be on the Q2 report. There should be revenue from the building, and the building should show up on the balance sheet then. It's disappointing that it hasn't yet, but timing is a possible explanation for that.

Until then, and given the history of this stock/company, then questions will remain, especially for those who have followed this stock for a long time.

Good luck.