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- Bias in Automated Valuation Models - February 28, 2022
If you do work for Clarocity Valuation Services, you definitely should pay attention…
Simple Wall St reports:
“Clarocity has limited growth and a worrying balance sheet”
On November 26, 2017 VaCAP shared an issue with one of our members not receiving communication from Clarocity Valuation Services concerning past due invoices. Due to our research and public sharing, our member was paid. During that time, VaCAP learned some things about Clarocity and we continued to follow the company.
We are not going to tell anyone who to do business with or how to operate their business, but
If you do work for Clarocity Valuation Services, you definitely should pay attention.
There is lots of information on the web about Clarocity. We encourage you to research on your own.
Here are some highlights what we have learned:
December 1: Clarocity issues 6,176,029 shares of common stock in lieu of $419,970 of interest only debt.
On December 6: Clarocity took on $1.1 million in debt at 24% interest. This includes a $100,000 buy down of the rate. Think about that for a moment. What is the cash advance rate of your credit cards? A 10% buydown of the rate?
December 6: TSX Venture Exchange has consented to the reduction in the exercise price or warrants. This was a renegotiation of the stock share price in lieu of a cash payment to a creditor.
December 7: A lively conversation about how Clarocity bringing on Appraiser Loft Executives and repeating the same bad behavior.
Clarocity has been issuing stock shares in lieu of debt since September, 2017, possibly earlier
December 8: Clarocity Stock closes at $0.055 per share. When we reported our story, stock prices were at $0.07.
December 13: Stockhouse Bull Board: Discussions of a tax loss sell off and Clarocity being acquired by another entity.
December 14: Simple Wall St reports
Clarocity has “limited growth and a worrying balance sheet”
“Clarocity is loss making”
“Clarocity has negative assets”
December 18: Clarocity borrowers another $1,320,000 @ 24% interest!
As previously stated, if you do business with Clarocity, you need to be paying attention.
Could this be another AppraiserLoft situation for appraisers?