5. Not proven. ☒ An Audit and a valuation are two completely separate things and different departments from Ernst & Young. Unless the
valuation report is false (no evidence of such) then the valuation has occurred. So the accusation that worldcore lied about it is false / incorrect / mistaken.
The reliability of the report is questionable.
"Reliance restricted" is a red flag. It means that worldcore paid E&Y to give them a valuation that they wanted for their ICO. It is as reliable as saying " someone who I paid a lot of money says my business is worth $xxxxx".
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Could it be considered as proof? Worldcore declares that Ernst&Young has audited company:
The figures obtained during the audit are the result of the audit, in which the companys assets were summed up, the available resources and possible future prospects were estimated. A detailed report on the audit can download anyone on the site Worldcore on the link.
Ernst&Young writes the opposite in the report:
Please note that the financial statements of the Company provided to us were not audited and we were neither provided nor had access to audited annual reports or notes to the Companys financial statements.