CVR Medical Corp V.CVM.H

The **** show continues

[ICT1111]

I wish I had one single positive thing to report, but I don’t. In recent conversations with very relevant people (ones expected to join the board at the AGM but with no ‘official’ position) a traffic light system for the deal terms was suggested in regards to the perceived acceptability to the SH’s...... 
Green: a deal at, or very similar to the Nov 2019 deal (even though the companies position has deteriorated) that the restructuring group and others would feel happy to vote for, fund and recommend others to do the same. 
Amber: a deal where the group feel that they can back it at an AGM but not recommend funding.
Red: Egregious, unfair, unvotable for, a deal where we would be recommending that legal action be started against some of the current and former directors. 
During those conversations the share numbers that Global were to receive in the deal and how they sat within the traffic light system were discussed.....
this published deal is a red light in the opinion the group and myself. 
It has been discussed with a number of significant SH’s and there is no optimism. 
If the deal had been an ‘amber’ .... and external funding found, great. But it is ‘red’ and it comes without funding.

There is no point in going through a restructuring and ending up with something that is not investable ......
The whole idea of a restructuring is that you do what is necessary to put the funding in place to take a project forward. 

There seem to be no new investors, no new money. 

The group and myself have put far too much unpaid time and effort into this project. The unrealistic expectations of the current board leave the future looking bleak. 
You can make any proposition look good on a spreadsheet but if you can’t attract investors hard earned $ nor satisfy their DD requirements you are going nowhere. 

The world has moved on, there are many exciting opportunities out there in the post Covid space that grab my attention more than this one.

Michael, Harvey and the board collectively have to realise what is needed to get people to part with their cash...... otherwise they will end up with millions of shares worth Jack **** and a meaningful technology sent down the tubes. 

If they find the investment and I have to eat my words then I will bow to their victory but I don’t see any new money coming here without a big existing SH writing a large cheque.