Replies to post #143678 on TAP Real Estate Technologies Inc (RWAX)

[havnagoodtime]

My brother-in-law worked in a steel mill for 30 years. I asked him some questions >>

At the mill where he worked, the slag removed from the blast furnace during the process of smelting was trucked to an abandoned quarry and dumped. Obviously he knows nothing of this particilar situation, but he added >>

The slag remained in the quarry and claimed as inventory until a 3rd party paid for the right, (if and when), to remove it from the quarry and refine it to produce silicate. Speculation only on his part >>

Thiago bought the rights to some slag being held somewhere, but not yet have physical possession. A given >> he knows nothing of the particulars in this case but also added >>

The cost of remining the slag once dumped, along with the cost of refining, can be high. Will Thiago divulge details???

[ListenToTheTrees]

Ah yes, the classic “they booked an imaginary asset” take, always a crowd favorite. Except, no, that’s not what happened.

What actually happened is Accounting 101: if there’s an asset tied to a future obligation, you book the asset and the liability. That’s literally how balance sheets work. The net effect is zero by design, it’s called transparency, not trickery.

And the “asset may not exist” line? Cute. If it didn’t exist, it wouldn’t be booked at all, that’s a great way to get a fast-pass to an SEC inquiry. Just because you don’t understand the structure doesn’t mean it’s fake.

So yeah, no smoke and mirrors here, just basic accounting mechanics that show both sides of the deal. Sorry it’s not the conspiracy you were hoping for.