RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:The most dysfunctional company with support for yearsIn 2018 I didn't even know Reliq existed, nor knew its SP had reached already over $2 cad...
I started day trading it as a low penny stock arount the end of 2019 , got out of it early 2022 after the white diamonds debacle which at the time I agreed with the CO must have been a dirty trick from shorters , .and got back trading it early on 2023 when I bought the CO argument that past problems were Covid19 related and the co was now on the right path to profability which convinced me to build up a relatively large position. from which I would only daily trade one third of it. like I did in 2021. and was confident like most shareholders posting at the time that $1 or $2 should be easily attainable. until April/June when it became apparent all the NR were just hype, with earnings reports delayed to the end of October.
That is when I decided to do my own DD, The more I learned the more I became suspicious.
I'm not a lawyer , not aware of all the nitty gritty details of the case, nor judicial verbiage... However ...
Jan. 24, 2022 /CNW/ - A settlement has been reached in a class action against Reliq Health Technologies Inc. ("Reliq") and certain of its current and former officers and directors. The class action alleges that there were misrepresentations in certain of Reliq's public disclosures and in documents provided to investors to solicit their investment in a private placement that closed On November 20, 2019, Siskinds LLP and Mathew P Good Law Corporation filed a proposed securities class action in the Supreme Court of British Columbia against Reliq Health Technologies Inc. (“Reliq”) (TSXV: RHT) and its current or former directors and/or officers, Lisa Crossley, Aman Thindal, Giancarlo De Lio, Eugene Beukman and Brian Storseth (“Action”).
The Action arised out of alleged misrepresentations in Reliq’s disclosure documents pertaining to the number of paying patients using its iUGO Platform and its related financial results. It is alleged that Class Members (defined in the Developments section below) suffered damage as a result of the alleged misrepresentations. The Action alleges that the misrepresentations were corrected by a news release issued by Reliq on October 16, 2018. In that news release, Reliq disclosed, among other things, that it had decided to restate certain financial information reported for Q3 2018. Following that disclosure, the price of Reliq’s shares declined by approximately 58% during trading on the TSXV on October 16, 2018 from its closing price on the previous trading day.
Also I remember vividely after the White Diamons report, Lisa stated that she would fight vigorously the allegations , which later she retracted giving as reason it wasn't wort it, that would take too much of her time growing the Co.
as for the 2.5 millioncad payment it was disclosed/paid in a NR, 1,5 million was covered by insurance if true. who knows?! ( I wasn't there.)
same for all Lisa interviews available on youtube where and when she is propagating all sorts of falsities misrepresentations..that never materialise for years now... I watched all of them available on Youtube. the last one being with Lytham partners. around April which I recommand