Replies to post #148530 on TAP Real Estate Technologies Inc (RWAX)

[dukeb]

The revenue was probably at least, in part, from Tickeri. I think the lawsuit states that Tickeri revenue was never more than $1 million a year, so having $1 million of Tickeri revenue in January 2023 alone appears very unlikely.

[TenKay]

Who knows, but they do explain it in the 10-K.

As a result of the WSCG purchase of the Company assets, the previous operations of the Company will be reflected as discontinued operations, and the assets that were sold are all reflected as assets under discontinued operations.

The bottom line of the discontinued operations is shown on the income statement…and that is all that is required.

I guess if they were faking a bunch of revenue and Borgers was looking the other way, this might be a way to handle it. But Fruci was engaged on May 9, 2024 and it would have been hard to hide in the re-statement accounting.