The saying goes, money doesn’t grow on trees..
- Bogus sales channels.
- Directors skimming cash through round robin scheme, which concurrently allows Quintis to artificially boost sales.
- Fictional institutional sales, Quintis books revenues which are
intermittently used to gain access to debt finance, before being written off.
- Debt finance used to engage in Ponzi-like behavior.
- Viceroy’s price target for Quintis is $0. The scenario is reminiscent of historical MIS ventures such as Timbercorp and Great Southern, both of which are now defunct(consensus with Glaucus Research Group).