Replies to post #142801 on TAP Real Estate Technologies Inc (RWAX)

[surfkast]

Tough concept to grasp?

the existence of this asset,

Maybe this will help?

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[Huggy Bear]

The shuck and jive here is absolutely over the top.

[jimr1717]

100% Correct

[NoMoDo]

This isn't that hard to understand, even for someone with no legal training at all. Lets break it down for the thinking impaired:

"However, we did not receive appropriate and sufficient information or documentation to corroborate the main assumptions used and update of this volume, as well as the existence of this asset, therefore, it was not possible to measure the fair value of the asset on the base date."

Main sentence: This is the full sentence with subject and predicate. The rest of the sentence adds color - description using prepositional phrases that modify the predicate. Conjunctions are used to add further information on what exactly the lack of (appropriate and sufficient) information led to.
"However, we did not receive appropriate and sufficient information or documentation"

Infinitive:
"to corroborate" Corroborate what?

Object of the preposition:
"the main assumptions used"

Conjunctions: Not only corroborate the main assumptions,
"and"

Object of the preposition: But also the volume - the worth, the value
"update of this volume"

Conjunction: For that matter, we also can't even state
"as well as"

Direct object - the ownership of any product. Some will point to a literal existence of fertilizer, but fertilizer exists, so the only real explanation of this prepositional phrase is - that the lack of information causes us to not even know if the poduct even exists in HMBL's inventory. How is that possible? Because no legal document states that it changed hands. How is there no legal document? Because in order to change hands, you need an agricultural license.
"the existence of this asset"

This sentence states that the document was inadequate or missing. Inadequate for what? To prove the assumptions used - such as the ownership of the product and the volume and value of the the asset. Lacking documentation, they cannot even state that the the product exists.

This is English grammar. It suggests that HMBL told the auditor that the inventory changed hands but the auditor cannot verify it without proper paperwork. Further, it it did change hands, the ownership is in question as proper title doesn't exist.

This should be the end of the conversation.