It looks like the classic double bind in this case. Damned if they do and damned if they don't regarding fins. Mayor is in an unenviable position as perennial president and last manager standing, as the others have left the stage. The habit of claiming tens of millions in uncollected receivables as net income while pumping out questionable press releases and, months later, writing off said receivables as bad debt, puts Mayor in the regulatory hotseat or worse. Whatever they say now could be used against them. If they say nothing, it might make them look worse. The merger agreement was a tactical mistake that beckoned scrutiny and exposure. SK is viewed as a scandal in some surprising circles. The disinterested highly placed executive I informally consult with from time to time on a range of matters is astounded this operation hasn't been shut down.
It looks like the classic double bind in this case. Damned
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