Quote:
Originally Posted by Dpeck100
It is not my area of expertise but it would seem that CLCT might carry some form of errors and omissions insurance. Just doing a quick Google search it can cover professional advice and it would seem that a graded altered card could fall under inaccurate advice.
At the end of the quarter in March CLCT had 15.7 million in cash and is on pace to earn roughly 9.6 million in their current fiscal year. I keep reading posts about the 832k reserve fund and people are forgetting this is just a bad debt reserve and should they have to payout more they have plenty of other resources to stay a float.
I get the feeling that it isn't going to be a slam dunk for card buyers to be made whole and especially since you sign a submission form that states you won't submit trimmed cards. I could see them going hard after this Moser guy and he clearly has some resources one would think after the trail of successful flips he has made.
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They may be able to pay and not go insolvent but a big hit to their cash will mean a hit to their valuation, no?
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