,,,,,,,,,,,,,,,,FINAL BC Securities Commission RULING......Simply FASCINATNG Reading the COMPLETE BC Commission RULING !!!!
I RECOMMEND EveryOne DO READ the FULL RULING
https://www.bcsc.bc.ca/-/media/PWS/New-Resources/Decision-and-Orders/Decisions/2024/2024-BCSECCOM-278.pdf?dt=20240625201120 Here IS the ACTUAL OPINION of the Commission
[125] In any event, given the expectations which Affinor had communicated to the market we do not
see a basis to conclude that reasonable investors would have expected a significant impact onmarket price had Affinor disclosed what it chose to omit. An individual looking only at the raw percentages of how much Affinor had spent of what it had announced had been raised, might
have been shocked. However, the respondents asked us to look deeper into the evidence
regarding the market expectation which Affinor had created and it is proper for us to do so. We
do not dismiss this proceeding because we agree with the respondents about the correctness of
the legal analysis in New Point. It is the body of pre-existing disclosure which Affinor made to
investors and potential investors which leads us to the conclusions we have expressed.
We should add two important clarifications to this decision. First, although it is true that in this
case the pre-existing expectations created by Affinor regarding its intentions about how it would
allocate future spending were not as clear as those which were proven in New Point and in
BLOK, we are not saying that it is a lack of clarity by Affinor in its messages to investors which
leads to the dismissal of the Notice of Hearing. What we are saying is that the pre-existing
expectations here included a large element of expectation that Affinor’s business focus was in
the process of changing because Affinor was moving from a developmental business to an
operational business and because Affinor’s disclosure might suggest to some investors that its
cash needs had been sharply reduced.
What I FOUND Hard to UNDERSTAND Was WHY There was NO EVIDENCE/DISCUSSION
as to WHAT__IF ANY__ACTUAL Consulting WAS DONE by the NUMEROUS BridgeMark
Members WHO Received ALMOST ALL the $4 Million Private Placement via Consulting
CONTRACTs