RE:RE:RE:RE:Recent posting re settlement Lifeboat1, when you were referring to my posting, you were obviously referring to the one below. I thought for a moment you were talking about my fictitious lscfa posting, which was of course just fluff. I do think between my posting and your much more robust postings, we've pretty much got the whole settlement thing put to bed. Time for us all to move on to much bigger and much better things...
RE:RE:RE:RE:RE:Recent posting re settlement
Great post theinvestor22. One thing to add. Fighting the lawsuit in court likely would have cost at least hundreds of thousands of dollars, as you said, but could conceivably exceeded the $600k out of pocket Reliq had to pay in the settlement, as well of taken several years to complete and time from senior management. This was money well spent by the Company to get this resolved. $600k out of $5-10 million in 2022 earnings is clearly worth it just to get another distraction out of the way.
theinvestor22 wrote: You might want to go through a long, distracting and costly (hundreds of thousands in legal fees) process, but a lot of folks would rather spend the $1M (not $2.5M) to clear the overhang and move on.
I'm not interested in guilt or innocence on this one particular 3+ year old issue, just investment return which for many of us has been very good so far. And, much more to come IMHO.
BTW, since this issue is now gone, what are you guys going to comlain about next? After all, it seems our CEO has been doing some very good things in the past few years. I, for one, am very pleased with the expanding niche, the company's offerings and the 150+ contracts, plus partnerships.
Much to be thankful for...
Canadian_101 wrote: Would you settle for 2.5 million if you were innocent, I wouldn't.
lscfa wrote: Crossley knew the no.s were bad in April but kept shareholders in the dark until October. She's guilty as hell.
theinvestor22 wrote: Many thanks to Sailorman for posting this over at CEO.ca:
More thoughts, this time regarding last Friday’s settlement, posted at “themoneynarrative” (again, scroll down the article to the latest January 24th comment). I’m not going to debate anybody on this board, but I’ll simply say that the following comment very closely sums up my perspective: “disgraceful how the victim of criminal behaviour has to pay to be able to get back to the task of managing its business without the distraction of litigation.”
https://themoneynarrative.wordpress.com/2021/12/31/reliq-health-technologies-rht-v-reflecting-back-on-2021/
In any event, with this now behind the company, let’s keep the contracts and partnerships flowing. As Dr. Crossley said, “the numbers will get pretty crazy, pretty quick”.