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TRS - THE REJECT SHOP LIMITED


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  • 5 weeks later...

Into March and the NZX still have not commented on documents which came into their possession in September or October last year.

 

Does anyone else smell a rat in the kitchen?

 

Five months ago, total assets, all of which were current, were listed as $181,000. Total liabilities amounted to $687,000. With trade creditors owed $207,000.

 

Assuming the trade creditors operate like most businesses and expect to be paid in a timely fashion, technically speaking TRS should be out of business. For in effect they are insolvent. Funds due exceed funds available.

 

After the Mainzeal decision, I think these directors need to do something pretty quickly lest they are held liable.

 

 

 

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Seven, yes, SEVEN months since we last got an update on this supposed transaction they have lined up.

 

Apparently, they have submitted the proposal to the NZX and are awaiting feedback.

 

What a farce. Both NZX and TRS.

 

They can't hide forever though. They must already be insolvent unless more money has been tipped in which they chose not to tell anyone about. Guess we will have to wait for the interim to find out if anyone can be bothered taking any interest.

 

 

 

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