RE:RE:RE:RE:RE:A MUST READ FOR ALL CXV SHAREHOLDERSMas, I am long, deep (and underwater) on this stock, luv the sector and the prospects within. Should execution unfold, the sky is the limit here - the precise type of venture co I like to put coin down on.
Firstly, I have not stated nor am I implying that LND, PHM and CXV are a 'big scam", Mas. PHM is actually looking to be getting their act together and I might just invest there again with the newish mgmt holding the steering wheel.
Regarding, Costine, Greene, Daslin, Brann et al, I have not seen anything in their three plays to assure me that they are what one might call "solid management". Far from it. Company performance and SP, let alone outside 'factors', is the metric - right? Case closed. Stampp had me excited until he proved to be a mirage; more of a joke sadly. I was so disappointed in him.
Now to your question of the "REIT". I don't know for fact what it is all about, but bear me out and you tell me what my impression(s) should be given my experience in dealing with the company's reps.
Go back and look at the pertenant PR(s). Geez not much detail provided, no REIT website (huh), no standalone office info to my knowledge, no spokesperson from said REIT saying all the "How happy we are to be involved with little Convalo" no always-present, standard 'what a happy marrage this is gonna be' bs whatsoever. Generally speaking if a 'little guy" like CXV is attractive enough to draw REIT attention, someone from "Little Guy Company" would be singing loudly from a rooftop. The street cred alone is worth making this a big PR deal; kind of a coming out, "look who we are running with" party. Secondly, waaay back a poster actually pulled some docs (you look) from the respective central registries or public agencies on a deal funneled through the "REIT" and posted same photoed copies on SH. If memory serves, the docs did not look good re: non-arms length or at very least merited co response to absolutely clarify and provide assurances of a no conflict-of-interest scenario. What I was surprised at is that said posts recieved very little SH response. Too deep maybe or "hey, that could be a co knee scrape so we don't want to hear it. I know my thoughts at the time were that if 'they' fed some property through and took a smallish "lift', not great, but I could deal with it as it was only a sliver given the glowing performance metrics we were being fed to us at the time and that we needed someone focused on funnelling properties in all these diverse geographical areas - and FAST 'cause we're flying here! If nobody was getting all up-in-arms, who am I to start a rant. That was in the Blue Sky Days - this is now. Much has been represented then modified or retraced, once glowing numbers/operting metrics and growth projections are in the wastebasket. Stampp was simply pathetic and didn't even know his base numbers for fux sakes. Now comes to light "stuff" in LND! As if we needed that on top of their less than upfront and auspicious exit from PHM wherein D & G left the investment community holding their mid-sections including me. BTW it makes me puke to hear some comments here and on the LND board akin to, "How great is that Brann is on board, He'll fix things up, bring tranparency and all" Gawd! He is part of the group (as stated on yet another post, may be related to Dalsin, but I don't know or care). What has Brann brought to CXV? Answer SFA imo. I did copy said SH posted copy docs to one of the Board of Directors out of Toronto (I leave it to others to figure out whom) and he reponded that he would forward same to Brann who would be getting back to me. Funny, I never did hear from Brann, well, kinda funny. Prior to seeing and sending the doc to the Board Member, I even talked to Brann one time asking for info on the "REIT". His reply was something like, "Wasn't it all in the disclosure?" Well, no. "I'll check into it and get back to you." Any guesses as to whether I recieved a call back (which is why I then popped them to the Board Member). Probably coincidental that we have heard nothing more on that "REIT" after that as well.
As an aside, I have dealt with REITS in my business life and I can assure you this 'peanut play' with lack of finanicial covenant, is really not what ANY REIT that I know of would run towards. REITS are all about secure cashflow. End of story. That leaves REITS dealing with large space f(ootprint) requirements, typically national or, at very least, strong regional tenantcies/entities that have long and storied history coupled with, and this in fundamentally important, a Triple A credit rating. NOT some hillbilly, weeny space start up. Knowing all this got the hair on the back of my neck to stand up and was why I called Brann and sent the docs posted to the Board Member for comments. Silence isn't always golden; in fact, when it relates to a public company, silence is almost always equates to elephant dung and heartburn.
Anyway, I like the sector. We could and should have great investment potential - finally! But and IF CXV does not perform to industry standards by company/board flagrant mismangement and IF there are any legal impropriety(ies), I will most willing throw time, effort and some resourses in the fondest hopes of repeating what has been done over at LND (I have no stake there). I would hope others here would be equally receptive to chipping in a few $ should the need to do so become apparent. Let us hope that shareholders finally see the reasons why we have, or are buying this stock, bear friut ... in a still waters atmosphere. Some of us have certainly waited long enough. Disclosure - I hold 1,131,738 shares in various entities and might look to average down should sunlight show itself. So, not that much really, but I just hate getting the runabout. Not saying we are here as I do not know. Anyone find this interesting?
masfortuna wrote: Abnormal,The Reit agreement was in place and still is as. They have not opened any new facilities since then so there has not been a need to use it. What do you mean exactly when you say "overture, sketchy, Reit entity" was not arms length????
Also insiders still hold fairly large positions with Convalo. Check sedar and you will see that not a single share has been sold as opposed to LND.
As for Costine, Lnd was obviously not operating properly in it's current form. Should the insiders have sold? Not sure as I don't really follow it BUT from what i understand, the main issue with lnd is again transparency and several changes in direction. If these 3 companies LND, PHM, CXV are just a big scam , then I assume that all those institutions would also be on board as far as legal action is concerned wether they hold shares or not at the moment. The reality is that thus far CXV has not been involved with any "shady" transactions. Even the King's Cross acquisition appears to an excellent addition. They paid 400k in shares approximately BUt the deal was struck when the sp was much higher. As long as Costine gets Cxv to the next level I would be ok with him remaining incharge.We will se at the Q3 exactly what he has done being at the helm for a full quarter.
Mas
Mas