RE:RE:RE:OSC and HCG settle !!!Tater,
the story was 3 year old- the bad brokers, the bad mortgages, they aren't an issue any longer.
the fine was as expected- the real question was why did they not settle this back in February or March like other companies do. I am guessing that someone at HGC was stubborn and didn't want to own up to it. .Not sure who. But this could have all been avoided had they done this settlement sooner- However it did work to the shorts benefit.
but now the replacement of the HOOP loan is imminent and the liqudity issues can be put to rest.
the old management is gone, the new board of directors are here to put in a proper governance structure.
The mortgage book is rock solid.
This was a standard OSC settlement for directors and management who are no longer actively part of HGC.
This was the entire point- you were and still are tilting at old windmills. No one denies what they did was wrong.
But the actual balance sheet should never have been questioned. This was not a $ 56 stock. But nor was it a $ 5 or $ 6 stock. But it will soon resemble a $ 25 dollar stock.