Post by
OleMule on Aug 12, 2020 9:26am
Financials
More of the same bullcrap. I do find it odd that in the MD&A it states:
"In March 2020, CVR Medical and CVR Global reached a tentative agreement for restructuring the two companies. CVR Medical is to receive all the Intellectual Property (IP) relating to Infrasonic, Subsonic and Low Frequency Ultrasound in exchange for shares of CVR Medical Stock. An independent valuation of the IP is to be done to determine the share amount. The details of the restructuring plan are being finalized at which time the agreement will be presented to the TSX-v for a pre-approval process to be followed by a special meeting of the shareholders for ratification. The Board of Directors agree unanimously that the restructuring agreement is in the best interest of the CVR Medical shareholders. As a stand-alone Medical Device Company, CVR Medical takes possession of the CSS and all future devices that may be in the pipeline."
Yet on June 8th, 2020, Paul Blunden put out a press release stating that the agreement had been cancelled and rescinded. Which is it Paul?
Who will do the independent valuation, the same firm that conducted the valuation on CVR GLobal? That was a farce, what was gleamed from that egregious valuation was everything was overstated including Peter Balema's and Global's contribution which they touted at $8M/$24M respectiviely yet the CVR Global Balance stated a MUCH different picture.
Come on Blunden tell the world the "NEW" plan
Comment by
Nastro on Aug 12, 2020 6:19pm
I have zero faith the 'valuation' put on the IP will be anything other than ridiculous and the potential dilution coming our way utterly obscene.
Comment by
Growth100Percnt on Aug 15, 2020 8:50am
At least we seem to be moving forward. They actually found some cash to file the Q1 results.
Comment by
Growth100Percnt on Aug 15, 2020 8:53am
I suspect Q2 must be due as well??