ERG Wrongdoing Pulic Trial Continue [5]Post by ERG Class Action,...

ERG Wrongdoing Pulic Trial Continue [5]
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We continue to issue the research report. Please download all document as evidences. If they do not pay back your asset, anyone can send them to jail.
Last issue [Counting True Value method B] proved ERG Total Assets True Value=$650.80 millions. VIX ERG report $30 millions profit just after grab away ERG assets. The true profit may be 100 millions by July 2009, that much more than the 80 million loan. They hide more cash income by delay the sale to Cubic just after finacial year 30 June 2009. Both VID and VIX have refused ERG shareholders requiring on the details financial report, that proved 50% benefits was a lie to shareholders. Let us see how they played the assets grabbing game ---

[ERG Class Action Research Report 1] [5]

1.3. Increase unnecessary $15 millions new loan from Ingot before Vote on 11/2/2008, while didnt ask customers to pay due about $261 millions. See counting in 1.2. So that increases debts in ERG balance sheets. See 1st row in page 20 and 7.3.2 in page 38 of Evidence A2.

1.4. Manipulation share prices to reduce ERG equity value from 300 to 13.7 (millions). See 7.3.2 in page 38 of Evidence A2.

1.5. Prepaid tax for 1/7/2009 ~1/7/2010 and other cost for new company VIX, See 6th dot in page 34 of Evidence A2.

1.6. Prepaid working capitals and other cost for New VIX, or Paid orders at highest prices to their related suppliers. The projects have been already completed 72% before 15/10/2007. See page 11 of Evidence B. Why they still increased so much $122.5 millions working capital? See Evidence E ---< ERG Monthly Report Summary>31/5/2008 ~ 31/12/2008. When Loan near expire, they paid 122.5 millions to somewhere as working capital. They deliberately didnt pay the loan, to put ERG into insolvency.

Continue next weekend