- The client, one of the affiliated companies of a Nasdaq-listed corporation, engaged Rödl & Partner Turkey to prepare a valuation report for internal purposes. Thus, an enterprise value of “Miracle Cash&More” was calculated using solely information and data received from and provided by the client’s external consultant.
- Rödl & Partner Turkey carried out the valuation of “Miracle Cash&More” business entities in England, Italy, Spain, Benelux and Germany as of 31. December 2023. Rödl & Partner Turkey points out that the engagement was not an audit or review and that no official audit opinion was given.
- Rödl & Partner Turkey’s valuation was exclusively based on the information and data received from and provided by an external consultant of the client. Rödl & Partner Turkey did not have direct access to the client itself, its customers, suppliers or any other counterparts of the analyzed business entities. During its engagement, Rödl & Partner Turkey assumed that any documents made available were comprehensive and accurate and that presented copies were true and comply fully with the original documents. Rödl & Partner Turkey did not verify the completeness and authenticity of the documents or the authority of the signatories. Rödl & Partner Turkey was not engaged by the client to conduct any audit on or review the data received by the external consultant of the client. Rödl & Partner Turkey does not accept any liability, as stated in the internal valuation report, for the accuracy of information and data used to prepare said report.
- Rödl & Partner Turkey used projections and forecasts provided by the external consultant of the client as a basis for the valuation. Rödl & Partner Turkey does not assume any liability for the accuracy and completeness of projections and underlying assumptions. Rödl & Partner Turkey points out that projections and forecasts are generally prospective in nature, which may therefore lead to variances between actual and projected results.
- The valuation report was released to the public without the approval of Rödl & Partner Turkey. It was intended solely for internal purposes of “Miracle Cash&More” and, as noted in the report itself as well as the signed Service Agreement between Rödl & Partner Turkey and the client, may not be used for any other purpose. The report or any part thereof may not be copied and/or used for advertising, public relations, publicity, or other purposes, may not be distributed through news, sales or any other public (or private) media without Rödl & Partner Turkey’s written consent.
In short, this report is the product of “Garbage in-Garbage out”. It is a hypothetical valuation based on hypothetical projections provided by Miracle Cash&More that was never intended to be shared with anyone.
Investors should demand monthly revenue numbers that this report is based on. To meet the 2024 goals, the company must do $283,750 per month in Revenue. For reference, 2023 revenue was less than $1,000/month. This report is just based on Miracle countries and not Phoenic or Cyprus or any other revenue source. Then in 2025, the company must do $7.4 Million/month in revenue.
Our video response is here: