Compliance Energy Corp CPYCF

ITOCHU WITHDRAWING FROM CJV JOINT VENTURE PARTNERSHIP

[coalbad]

On reviewing the Interim Financial Statements from June 30, 2013 which are now posted on the Sedar website. Several interesting points.

OPERATING CAPITAL AS OF JUNE 30, 2013 = $177,000

Also Itochu has given notice they are withdrawing from the CJV. Here's the news in item#8

8. EVENTS AFTER THE REPORTING PERIOD

Subsequent to the reporting period, I-Comox Coal Inc. issued notice to the joint venture partners of CJV that it

would be withdrawing from the joint venture partnership. The Company and LG International Investments

(Canada) Ltd. will continue with the exploration and development of the Bear and Raven Coal Projects located

on Vancouver Island B.C.

[Kearney]

An interesting development. Is the work on the environmental submission still going ahead?

[WileyCoyote1]

The environmental assessment process is still in place, but with Compliance's partners backing out and the stock price falling as well as dropping coal prices, my guess is that Compliance will fall apart and there won't be another submission to the CEAA.  It looks like they don't have enough money to keep paying their executive and pay for the studies they need to complete to