You are giving full credit to Absurda, based on the fact they can put together a report? Does that make it true? Did you do one single bit of due dilligence on Absurda? I thought not.
And you are fully, completely, absolutely discrediting BDO Limited? A company that depends on correct audits to stay in business. Remember Enron's auditor...what was the name? Now out of business. a big risk to not do a full, correct audit.
SPU stated $64 million in the bank...$2.50 per share.
Is the bank BDO checked those balances with also crooks?
So, SPU, the INDEPENDENT auditor, and an INDEPENDENT bank are all crooks....but Absurda is the honest one. The one who seemed to take a large short position within the last week.
that's why I bought it at $2ish, to mitigate risks. I find Absaroka's report to be pretty credible for the most part.
You want your investment to be bullet-proof. Don't fall in love with your company. If it's this easy to cast suspicion, then it's bad rosks to take.
Investment is a calculated risks, good thing I win most of my hands.
To sum up: The price of SPU may be reasonable now, given its cash position(what's real amount?), which is why I feel comfortable picking it up, but I am not sure it's a good risk to take going forward, in light of Absaroka's report.
You can always get back in after the smoke clears.