PWCC Statement on Recent Card Trimming Concerns

[vintagetoppsguy]

Originally Posted by swarmee

I'll take the bet that Brent is indicted by Jan 1, 2021 or that he turns state's evidence against BGS and/or PSA and one of their principals is indicted. $500

That wasn't the bet. I will you $500 that Brent is indicted by 1/1/21. Your $500, my $2000. That's the bet if you want it...and I'm actually extending the timeframe in your favor (I originally said within 1 year).

[CuriousGeorge]

Originally Posted by vintagetoppsguy

That wasn't the bet. I will you $500 that Brent is indicted by 1/1/21. Your $500, my $2000. That's the bet if you want it...and I'm actually extending the timeframe in your favor (I originally said within 1 year).

David, Brent has admitted that he is already dealing with law enforcement after about 2 weeks of this. You’re making like this is Monty Python and that’s just a flesh wound. Who knows what happens next? Does he roll on Moser? Anyone at PSA? If he does and they have issues and he just has to pay back a small fortune in restitution but doesn’t get indicted, does that make you a winner in the bet? I’m not sure you’re clearly seeing what’s going on here. 2 weeks in and already law enforcement involved. This time is different.

[swarmee]

You can take my bet or not. No harm. It didnt look like you thought PSA would get damaged in this.

[CuriousGeorge]

Originally Posted by swarmee

You can take my bet or not. No harm. It didnt look like you thought PSA would get damaged in this.

I think PSA is going to be very damaged from this. At some point the directors of their parent CLCT are presumably going to have to put out a statement to alert shareholders because the losses to them are potentially massive and they’re holding an 800K reserve.

[Fuddjcal]

Originally Posted by CuriousGeorge

I think PSA is going to be very damaged from this. At some point the directors of their parent CLCT are presumably going to have to put out a statement to alert shareholders because the losses to them are potentially massive and they’re holding an 800K reserve.

Here's a running total for you. This scam is MILLIONS my friends MILLIONS
(scroll down)

http://www.sportscardradio.com/alert...by-psa-or-bgs/

[swarmee]

Forever. Self-insured. Current market value. 30 million cards graded, thousands more daily.

[Peter_Spaeth]

Originally Posted by swarmee

Forever. Self-insured. Current market value. 30 million cards graded, thousands more daily.

This clearly will be the pressure point for the public company IMO. Their financial statements have to be audited. And more generally, as alluded to, they have disclosure obligations under the securities laws.