RE: RE: RE: It would be interesting... July 9/12 they announced closing of the first tranche of a PP for approx. $1.7M and determined not to complete the original balance.
July 20/12 they announced closing of the acquisition of MyTracks Mobile Health Solutions.
Nov 7/12 they announced arranging $1M secured debt facility at $100,000 per month
Nov 29/12 they issued results and MD&A for 3 months showing $100,000 revenue and $2.5 million in expenses.
Mar 1/13 they issued results and MD&A for 6 months ending Dec 31/12 showing $197,000 revenue and $4.5 million expenses.
Nov 29/12 should have really spooked us but there were enough fluff type news items coming out that a number of us were lulled into stupidity (speaking for myself at least).
Why they ever felt they could take on the MyTrack acquisition when they did is beyond me. The financing and goodwill items just crushed them -- who's oversight was that? Some dumb accounting or what?
They should have just continued on with their core business Visualize Vascular and B-Cad util they were more firmly established.
Now they are handing that business over to "newco" investors and it looks like leaving the dregs of the "SmartCoach" business to those of us that invested in the other part of the business to start with.
If the debt was due to the acquisition of Smartcoach why not give that to "Newco" and leave us where we started ... with Visualize?