ATI SOLAR

Solar seems the way to go, let us take a closer look. This company started off as ECSPONENT BIOTECH: As a strategy the Group focuses on other investment opportunities that are high tech, with high margins and high barriers to entry. One area of specialisation is Biotechnology. The Group’s Biotechnology Operations maintained its market share and contributed R20.1 million. Total revenue for the December 2013 financial year amounted to R20.6 million.

For the purpose and illustration, we will have to travel once again back to 2013 No provision has been made for 2013 tax as the group has no taxable income:

Seems like a good idea, in 2016 Ecsponent Biotech (Registration Number:2016/077 274) was started off as a shelf Company on the 25th of February 2016. During the current financial period 2017 the group registered two new companies which house the biotechnology operations of Ecsponent Biotech and Vitasave respectively. Ecsponent Biotech (Pty) Ltd incorporated the following entities during the period under review. A financial year later on the 2017 Financial Reporting, they record a loss of R189 241 000.00, however never gets mentioned on one Sens notice.A failing business does not get liquidated, no in Afristrat’s case they just change names, record and claim taxes.

Here the automotive company enters ECS AUTOMATIVE, Ecsponent Biotech changed to Ecs Automotive on the 14th of May 2019 and this company never gets mentioned in a single SENS notice. A financial year later on the 2018 Financial Reporting, they record a loss of R207 769 000.00 all in all they are used as a vehicle to acquire liabilities, even if they had brought the balance from the previous year over they would still have acquired further losses.

In 2019, after a devastating 2 years they actually record a profit of R397 656 000.00 giving this company a gross profit of R646.00, at this time creative accounting comes to mind.

A failing business does not get liquidated, no in Afristrat’s case they just change names, record and claim taxes.

Biotechnology obviously did not work out, Automotive Services failed, now they try the Solar route. ATI SOLAR SERVICES (PTY) LIMITED enters, same registration number registered on the19th of January 2021

In 2020, the joke is on all investors, the company, ATI Solar did not operate at a loss nor an income, no movement.

2021 George Manyere resigns and our sole owner is Tertius de Kock.