Overhead has increased
“Canadian GoldCamps Corp. announced the appointment of Kevin Cornish as CFO yesterday as part of significant management changes. That represents his third appointment in this role that we are aware of. In view of the tasks confronting him at Reliq Health, are you comfortable that he will be able to meet the demands? The optics of this from a shareholder’s perspective are not great, suggesting that he will not have sufficient time and focus to deal with Reliq’s issues and that the company may be sufficiently cash-constrained so as not to be able to hire a full-time CFO (or at least one with limited outside duties). Comments?”
“As we discussed, Kevin is available for as much time as we need him and Reliq is his primary focus. I am comfortable with him working with other Companies at this stage as long as we continue to receive the support from him that is needed. Reliq has made a significant investment in bringing on a new finance and accounting team in 2024 that does all the work up to the controller level, which is the bulk of the finance and accounting work that is needed. The finance and accounting team are the ones who have done the bulk of the work completing the audit and dealing directly with KPMG, prepare the quarterly financials and improve collections.
Thanks,
Chris”