OTCPK:NEPTF - Post by User
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Exporton Aug 13, 2021 6:08am
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Q1/22 MD&A
Q1/22 MD&AA few gems from Q1/22 MD&A...
Two directors (Rochon and Pemberton) not standing for re-election (then there was also Schottenfeld in May).
Interest rate on $10 million promissary note issued by Sprout to Morgan Stanley, and guaranteed by NEPT is 10%.
Goodwill (excess of purchase price over net identifiable assets acquired) on Sprout acquisition $29 million.
Contigency note re Sprout contamination issue, and other potential matters.
Management's evaluation of effectiveness of Disclosure Control and Procedures concluded they were not effective due to material weakness in Internal Controls over Financial Reporting (disclosed in AIF). Currently implementing Remediation Plan.