Post by
mesa1 on Apr 03, 2023 9:34pm
Where's the BCSC when you need them? ...
What kind of BS is this!? ...
"During the period from incorporation on June 17, 2020 to April 30, 2021, a company controlled by a significant shareholder of the Company borrowed $100,000 from the Company. The loan was unsecured, repayable on March 15, 2022, and bears interest at a rate of 5% per annum. During the year ended April 30, 2022, the company controlled by the same significant shareholder of the Company borrowed additional $207,000 from the Company. The loan was unsecured, repayable on March 15, 2022, and bears interest at a rate of 5% per annum. As at January 31, 2023, the related party had not repaid the loans totaling $307,000 and the accrued interest receivable on the loans of $12,478 (April 30, 2022 - $12,478). The Company has recorded an allowance for the full amount of $319,418 due to the uncertainty of the collectability of the amounts during the year ended April 30, 2022."
Where's the BCSC about this? Same BS and corporate ineptitude as when this was Worldwide Marijuana, which got the dot.