That means the seller has to show the buyer documentation to verify their claims of revenue, expenses, etc.
Since Twatter can't do that (because they have been committing fraud), you can be sure there are some executives, directors, and SEC "regulators" (who looked the other way and did nothing about the fraud claims for many years) that are sweating bullets.
They are all facing lawsuits that will bankrupt them and send them to prison.
The stock price will be halted because the price will drop like a rock.
No idea about that. But that would likely be part of the DD. How can you agree to buy a company if you don't have access to the computer programs that make it run?
It would be like buying a car without a test drive or even starting the engine.
The deal is in the due diligence phase.
That means the seller has to show the buyer documentation to verify their claims of revenue, expenses, etc.
Since Twatter can't do that (because they have been committing fraud), you can be sure there are some executives, directors, and SEC "regulators" (who looked the other way and did nothing about the fraud claims for many years) that are sweating bullets.
They are all facing lawsuits that will bankrupt them and send them to prison.
The stock price will be halted because the price will drop like a rock.
Will be an interesting fireworks show to watch.
Thats all factually true, but not really an answer to my question :)
I know its in DD, but do we have some confirmation that Elon has backend access?
No idea about that. But that would likely be part of the DD. How can you agree to buy a company if you don't have access to the computer programs that make it run?
It would be like buying a car without a test drive or even starting the engine.