Having cleaned up A-Paulin and stripped out the inconsequential assets, Usilis was busier.

Usiris and David Stern held an internal shareholders' meeting at the SBBA Club and reached a preliminary agreement, and the total assets of the SBBA company have been basically fixed, and there will be no unnecessary share expansion.

The second step is the liquidation and transfer of assets. First of all, it is necessary to liquidate the subsidiary's assets and debts contracts, etc., reorganize the management of the subsidiary, determine the remuneration and various rules and regulations, transfer of industrial assets, three-year operation plan, internal capital chain and financial system, business cooperation plan, and a series of contract matters.

The third step is the stage of subsidiary share expansion. The large expansion of the subsidiary, which has nothing to do with the assets of the head office, does not increase the amount of assets of the head office, but it increases the amount of industrial assets and liquidity, and transfers half of the risk to others.

In order to effectively control the "asset bubble", the stock expansion plan is still to expand at a ratio of 49/51 after a valuation of 1.25 times.

In the early stage of operation, the parent company must ensure that it has an absolute controlling stake of 51% of the subsidiary, because once other companies take away the absolute controlling stake of the subsidiary, they want to dismantle and sell if they want to, and the influence is extremely bad. Coupled with some rumors and the like, once the shareholders of the parent company sell their shares in tears, there will be a terrible "multi-bone effect", bankruptcy is not an empty word!

Therefore, the maximum amount of share expansion: total assets * 1.25 times * (49/51) = total assets * 1.201 times.

For example, the original assets of SBBA are fully controlled by OK Company, with total assets of 750 million yuan, and the maximum amount of share expansion is 750 million * 1.201 times = 900.7 million. It was in accordance with this rule that Usilis increased its stake by $900 million.

Future budget: SBBA factory, estimated at $19 million, OK invested $10 million, allocated a piece of land worth $14 million, and allocated a batch of factory construction equipment, etc., the assets after the reliquidation reached $60 million, and the maximum amount of share expansion was $60 million * 1.201 times = $72.6 million.

To explain here, the concept of "asset bubbles".

The so-called "asset bubble" is that the company's income in the next three or four years is calculated in the process of expanding shares, which brings virtual assets like a bubble, with a limit of 0.25 times of total assets, that is, 25%.

In the process of share expansion, the total assets expanded 1.25 times from 750 million to 937.5 million, and the difference between the two is 187.5 million, which is the "asset bubble".

This 25 percent, after three or four years, will increase by 6.25 percent to 8.33 percent annually.

It is said that the annual growth rate of global house prices is 6.3%, and the global average inflation rate is also 6.3%, which is the result of the consistent excessive increase in housing prices and excessive issuance of paper money by all governments around the world.

For industrial assets, after removing various investments, operating expenses, and taxes, the average annual net income is higher than 6.3% of total assets, which is definitely a benign asset.

On the contrary, if it is lower than this 6.3%, don't say anything, change the CEO immediately!

In the battle for the controlling stake of a listed industrial company, the purchase of a large amount of shares from a small shareholder, with a bid amount between 1.1 and 1.25 times the market value of the current month, is the greatest sincerity; In general, as long as some other aspects of cooperation are attached, the deal will be completed.

This, the market value of the current month and the original market value of the year, are different concepts, and it is not unusual to multiply several times.

In addition, in the e-commerce industry, asset estimation is linked to the number of customers, and this share expansion is very crazy, all of which are expanded by auction, five times and ten times the churn, which can make a boss instantly enter the billionaire club, and the hidden "asset bubble" is more than ten times higher than the real assets, which is very dangerous. On the contrary, once the operation fails, the "asset bubble" turns into a large debt, and the boss is forced to jump off the building, which is also normal.

After the explanation, let's get back to the point.

The list of SBBA Group assets is as follows.

1. Directly affiliated assets: SBBA First Building, SBBA Club (13th floor above the Empire State Building).

2. Assets with an absolute controlling stake of 51%, including: SBBAHD (including SBBA 2nd Building), Gore Center (MIC Center), SBBA Factory (AND1 Company + a piece of land), SBBA Sports, SBBA Entertainment, SBBA Current Affairs, etc.

3. Holding assets: 15% shares of MSG (Madison Square Garden) and 10% shares of Continental Aviation Center Gymnasium.

4. Liquidity: about 1.298 billion US dollars (unliquidated debts), street team franchise fee (5 million US dollars * N times, unliquidated), etc.

5. Total asset value: 2,276.5 million US dollars.

The list of shareholders of SBBA Group is as follows.

1. OK Investments: 41.18%.

2. NBA Group: 19.28%.

3. The Trump Organization and the Bass Organization, each with a 4.39% stake.

4. N first-class minority shareholders such as James Dolan and A-Pauline each own 1.317% of the shares.

5. Other scattered second- and third-level shareholders, not to mention, are basically NBA stars, business tycoons, and so on.

The list of OK investment companies is as follows.

The 175 billion industrial assets are classified as the SBBA Group.

2. The account liquidity is 439 million US dollars (half of the total 878 million US dollars of the three checks).

3. Catherine Gore owns 91% of the shares, her father Albert Gore owns 7% of the shares, her brother Kirstin Gore (born in '77, 24 years old) owns 1% of the shares, and her brother Alba Gore (born in '82, 17 years old) owns 1% of the shares.

In fact, Catherine owns only 1% of the shares, and the other 90% is in the hands of Dai Usi.

The general content is as above, but there are still a bunch of subsidiaries under all subsidiaries, a large stack of contracts and contracts, etc., and it will take a month to liquidate them at the earliest.

The SBBA's future focus will be on the sale of television rights.

With this, SBBA can earn a stable income and grow thriving; If there is no this, hehe, delay until bankruptcy, there will be no follow-up.

Catherine and Marc Frederick were busy reviewing a large stack of documents and giving decisions, signing and stamping, and so on.

During this time, Usilis lived in the SBBA club, met with various business tycoons, and was busy planning the future of the SBBA. (To be continued.) )