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Bullboard - Stock Discussion Forum CVR Medical Corp V.CVM.H

Alternate Symbol(s):  CRRVF

CVR Medical Corp. is a medical technology organization. The Company is focused on the development and advancement of technology at work within the healthcare sector. The Company’s Carotid Stenotic Scan (CSS) is a diagnostic tool designed to detect and determine a level of carotid narrowing for the purpose of identifying patients at risk for Ischemic Stroke. The CSS provides a synergistic tool... see more

TSXV:CVM.H - Post Discussion

CVR Medical Corp > Observations
View:
Post by ICT1111 on Jun 02, 2021 7:20am

Observations

Just attempting to tie up a few loose ends. 
I am no expert on the rules and regulations of the TSX so
some of my comments may be incorrect. 

Harvey and Michael were in positions 'elect' and subject to ratification at the AGM. They are therefore considered more as advisors until their election as directors. 

The hope was that H & M could bring together a plan that was 1/ acceptable to Global. 2/ that would be voted on favourably by the Med shareholders at the AGM and 3/ was financially viable........ sounds familiar? Exactly as the  restructuring group tried to do in Nov 2019. 

it is my understanding that H & M presented a 'non-negotiable' deal (accompanied with a joint letter of resignation) and gave a deadline, 'agree or we resign'. I further understand that they succeeded in convincing the majority of Global SH's that this was the ONLY way forward. H & M and senior Global SH's were confident that they had pursuaded PB to agree to the terms but at the last minute PB refused to back the deal without 2 significant changes being made. H & M reiterated that the deal offered was the only one that they would work with, PB said no, H & M resigned. 

I happen to know that both positive and negative press releases were prepared...... it was that close. Unfortunately H & M resigned before releasing the company press release which then made its release difficult. I believe both have now made public statements but the company have not commented.

I am aware that H & M spoke to more than 40 various stake holders and potential financiers in building their vision for a combined Medical/Global. Their conclusions and therefore the deal was very similar to the restructuring groups. 

Thanks go to H & M for a lot of hard work. The CSS deserves better than this. 

To answer another point made recently; I spoke with a former director, JK, on another matter a couple of weeks ago and when I asked him if we could have 5
minutes on Medical he said words to the effect of 'only if a deal has been done'. I was left thinking that he would be prepared to look at it again but would not try to lead or be part of a deal. 

Hey Ho..... most of us here accepted this as high risk investing but I never thought that the problems would
come from within. 

GLA

Comment by Looneytunes on Jun 02, 2021 11:46am
So I guess we should expect an announement soon else the company will be in breach of the TSX-V condition as I assume they no longer have a CEO. I guess they'll just give it back to Blunden as no other fool would take it on now. Paul Blunden, M.D. was hired as the interim CEO and CFO as of the resignation of Dallas Hack, M.D. The TSX-V required CVR Medical Corp. to have a CEO and CFO in place ...more  
Comment by Nastro on Jun 02, 2021 1:40pm
He's as dumb as a rubber thumb.  I marvel at just how stupid, arrogance and greedy Bakema continues to be but I guess it's in his DNA.  Quite startling but not surprising behaviour from him.  Who would touch this with a 10 foot pole now?  Frankly what would be the point?  Sold most of mine at 6c and the balance at 4c.  Painful at the time and just a few ...more  
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