Karnalyte Resources Inc T.KRN

Interesting read

[mdjbrown]

ISSUING SHARES FOR A PROMISSORY NOTE 



https://www.bennettjones.com/-/media/Files/BennettJones/Shared/CCT248Haughey.pdf



Of note, between Sept 31, 2018 and Dec 31, 2018, the decommissioning liabilities increased by a whopping  $2,375,000

 
Dec 2018 Rights offering proceeds $2,389,908
  

 
Decommissioning liability:
December 31, 2018   -     $2,553,000         
September 31, 2018 -    - $   178,000            
                                             $2,375,000


Dec 2018  Rights offering:   $2,389,907.94 
14,058,282 common shares x .17 cents

[Trade33right]

What am I missing here. The scenario you describe appears to be a stupid attempt at fraud. Where is the securities commission on this? They were quick to shut down our financing for a minuscule change in our documentation. Where are they now?

[Trade33right]

I have been following the KRN story since buying shares and watching them climb to $17 til the commission red flaged the company to take a closer look at the resource. They forced a change in documentation and showed that the information was actually correct. I was not smart enough to sell back then and haven't bothered with the  share price where it is. I have accepted the obvious

[Trade33right]

Mdjbrown, With the all the problems you have had with posting on here, I have to believe you have considered the fraud scenario you are describing. I appreciate you pointing out the numbers. Do you know if the securities commission is looking into this?

[AriW16o]

We all reported to securities commission but they close their eyes. They don't care about us shareholders as victim. They did not go further with the investigation. Too much work for them. Just sit in front of their computers and accept nice salaries.  If you don't believe, just contact:  Shannon Ash Financial and Consumer Affairs Authority of Saskatchewan Senior Enforcement

[mdjbrown]

T33,  I believe the ASC file regarding Karnalyte Resources would be fairly indepth, as according to court docs, it appears even the CSG has sent several complaints to the regulators. The past CEO is a very bright individual with decades of corporate experience from both a legal and accounting perspective. The claim that he had to issue a warning to the Board that there could be legal grounds