The Luckin Coffee company was recently charged with defrauding investors by misstating its revenue, expenses, and net operating loss to appear to have been more profitable and growing faster than it actually was and to meet the company’s earnings estimates from April 2019 until January 2020.
Luckin’s shares traded on the NASDAQ until July 13, 2020. Luckin’s stock lost 90 per cent of its value, or about US$11 billion, between the time the scandal broke in April and its delisting in July. In early January, its share price was about $50.
That plunged to well below $10 per share because of the accounting scandal in April. One of our clients’ $150 million investment in the company declined by 90 percent to $15 million. WTE paid the client $150 million, which is the full value of their investments when they reported it.
One of our clients (a fortune 500 company) had an excess inventory for which their cost is $785 million, and they received offers from potential buyers only as high as $350 million.
They were unwilling to take a $435 million loss so they engaged the services of WTE to recover the full value of the assets. WTE paid them the full $785 million within 24 hours for the inventory in exchange for them placing a pre-determined portion of their upcoming expenditure through us.
One of our client’s corporate real estate portfolio values has been dramatically depressed by a downturned economy due to the coronavirus pandemic. An office tower building they own was no longer needed. It had a book value of $567 million, but they couldn’t find a buyer to buy it for more than $200 million in the current market.
The underperforming asset was adversely affecting their cash flow and expense budget. WTE purchased the client’s assets at its original book value of $567 million, thus allowing them to avoid a corresponding $367 million loss and writedown.
Our client is a multinational energy corporation with operations in more than 180 countries.
To improve efficiencies and generate capital to fuel its core business, the company engaged the services of WTE to sell its wide range of surplus assets including drilling equipment, oil rigs, and office furniture.
WTE paid them the full $2.53 billion within 24 hours for the surplus assets in exchange for them placing a pre-determined portion of their upcoming expenditure through us.
“Most realtors today would agree with me that the economic recession is affecting real estate deals but how Trade Exchange helped me sell out properties worth $43.5 million in 24 hours is something I can’t explain. Great job!”
Scottie Hitchman–LA. California
“This is truly an awesome service. My company was able to sell out $29 million worth of steel products in 24 hours through the trade exchange platform. From our records, this is the fastest we have used among similar services. I highly recommend this.”
Elvira Dean–New York City
“I am recommending your services because of the help which resulted in the sale of all our hotel accommodation for the next 3 years within 24 hours. I am indeed grateful.”
Jaimie Lagrone–Houston, Texas
“You guys are doing a very nice job here. All our Fiber Optic Equipment worth $12.3 million were sold out within 24 hours and I am excited to share the experience. Thanks.”
Garnet Enciso
Another received television ads, print ads, outdoor ads, internet advertising, professional services, consulting, public relations, and investor relations activities, convention facilities, cruises, timeshares, vacation properties, and storage facilities.
One of our clients averaged an extra $750,000,000-a-quarter profit off their internal private currency profit center.
I could tell you a lot more and have your eyes jump out…but it would fill 1000 pages … and I’m sure you get the idea.
Contact World Trade Exchange today to explore how we can empower your project's journey.
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