TSXV:POI.H - Post by User
Post by
lscfaon Mar 31, 2016 9:01pm
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Post# 24717963
Question for CC
Question for CCWhy doesn’t Slyce disclose to all shareholders the updated financial model demanded by Funtastic that provides clear visibility on cash flow? Isn’t this illegal selective disclosure?
March 11, 2016 NR says:
The remainder of the Private Placement of up to $7 million is expected to close over the course of the next 30 days. This will be based on the fulfillment of certain criteria as outlined by the lead investor (the “Lead Investor”), which includes, but is not limited to, certain participation by management in the Private Placement, cost reductions across the Company and the implementation of an updated financial model that provides clear visibility on cash flow. The Slyce board of directors is in agreement on the implementation of each of the currently proposed criteria noting that work had already been underway on these initiatives for some time, in particular on the cost reductions.