Fertilizer exists. Someone might just take away your junior detective badge for saying otherwise.
1. Ybyra said that they were going to transfer the $20mil worth of inventory.
2. Ybyra said that they intended to start making a profit for HMBL on day one.
These two things led to the assumption that the assets were transferred and that they were immediately sold. Valid assumption because that is what the comnpany was leading toward.
3. The Brazilian gov said that Ybyra couldn't transfer fertilizer without an agricultural license. That is public record. It wasn't clear if that applied to transferring to their own company. We now know that it did.
4. The auditor for HMBL stated that the documentation was not given to them to verify the inventory or even let them say that HMBL had possession. Documentation. No documentation.
5. Ybyra attempted to get a license and failed. It then said it would buy a company that had an agricultural license. They did last week.
Now, Ybyra needs to file with Brazil stating that they now have an agricultural license. Afterward they can transfer the inventory to HMBL and provide the proper documentation. I would imagine that at best, it will take a week. Like today or tomorrow. At worst, it might take a month. As this will affect the 10k, I would assume that there is a need to make things happen sooner than later.
We will see. As for the debt, read the financials.
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