CDNX - More Delays
Uograd, facts are helpful to this forum, not sarcasm.
A couple of things. First, there are more delays from the CDNX. Personally,
I am absolutely fed up with this exchange and I will be very reluctant
to invest in other companies in the future on the CDNX. The bureaucratic
red tape that now exists with the CDNX makes me think this exchange
operates in Russia. The CDNX itself admits it is swamped and having
trouble approving things in a timely manner. So fix it! There has been
a regulatory over-reaction to some of the problems that existed over the
years with the VSE in particular. They have gone from one extreme to the
other.
Word is that FRP's change of business approval from the CDNX may not
happen until, well, whenever. No one has a clue, least of all the
CDNX.
As a result rumor has it that FRP is considering listing on the OTC,
where a number of CDNX companies have fled to in recent months.
As a shareholder I would wholeheartedly endorse such a move. This
would give FRP much greater exposure to U.S. investors and free it
from the CDNX's regulatory stranglehold. Smart move. As a shareholder,
I totally blame the CDNX for much of the drop in FRP's share price
due to this incredibily slow, painful and unnecessarily lengthy approval
process. The only ones making money are the lawyers and, probably, the
CDNX. This is bloody ridiculous.