Reliq Health Technologies Inc V.RHT

Link to BCSEC hearing regarding pump and dump allegations.

[Whynottoday]

IMO....I don't understand why the former CEO, Lisa, was not terminated earlier as she signed off on all the alleged misleading promotional  pump and dump news releases referred to in the BCSEC allegations summary. As CEO she should have known or ought to have known they were misleading IMO See link to BCSEC report....

2023-BCSECCOM-369.pdf (bcsc.bc.ca)

[Mitch43]

 I guess because she did not actively participate into the details of th pumping into the  Pump and dump schemes like the 6 presently on trial., which made it difficult for the BCSEC to charge her  for lack of evidence. Her strong defense being she wasn't aware of it....unless it could be proved.

[Whynottoday]

What do you mean she was not aware of it and no proof? She was the CEO and signed off on all the alleged misleading invoices and F/S. In my opinion, the  BCSEC will dig deeper as hearings go on and others may possibly be charged Or they may offer her a plea deal to testify, against the main actors. Just my opinion of course.  Time will tell. hard to believe all this can still happen in

[Whynottoday]

Sorry this should have read "She was the CEO and signed off on all the alleged misleading NEWS RELEASES " (not invoices ) and F/S. 

[Mitch43]

  Whynottoday , Yes she had to be aware, but that is no legal proof she participated into the scheme at least in court. so she blamed it on rogues Reliq employees ( basically the ones who nominated her CEO). Then the present Canadian justice system is both extremely slow and lenient to the extreme to lower incarceration costs. Yes they may offer her a plea deal to testify against the

[theinvestor22]

We've known about this for the best part of a half year now.  If guilty, these guys should pay a stiff price for their involvement.  The BCSC did not include Lisa in this action for a reason, which is they concluded she wasn't part of the scheme.  She and Reliq and regular shareholders would be the victims here.

[kusio1]

Riiiight, CEO installed by pump and dumpers. The CEO who signed off on all fake and misleading news releases and financials with questionable revenue recognition is a victim Best case scenario she was extremely useful MASSIVE idiot, as even a 5 year old having access to a bank account would know whether the company is cash flow positive or not.  If your bullish thesis is that CEO is an

[theinvestor22]

I'm still waiting for you to explain your lie about massive write offs, unless you want to fall back on the massive idiot defense you think others should use.

[Differentfleas]

I am still waiting for you to explain...how an OBVIOUS genius could ending up owning an OBVIOUS loser like this??

[kusio1]

I didn't know your question was serious. It happened in 2018. And since then they collected less than they wrote off, and are about to do another major write off. What's your next question? Name of ex CEO? What's 2+2? How about you do some basic due diligence so you have some information about the company instead of spewing nonsense?

[Mitch43]

  kusio1 Don't get mad at I22... A big rock fell on his head while he was stiil a child! kusio1

[Whynottoday]

This story is far from over and no one is in the clear. IMO It will just take awhile to unfold. The best thing for shareholders, at this point is push for the company to be sold, as attracting new capital with this fraud story will be nearly impossible. Reliq is now dirty word and assume it will die a slow death. Short mlight be the only remaining play. IMO All for now and goodluck with this

[theinvestor22]

Ah, I see you're referring to a time, 5 years ago, before the corporate reset, when several former employees were accused of fraud, theft, extortion and sabotage.  At that time, the company did write off $1.1M in accounts receivable and they initiated legal action to recover damages caused by the alleged perpetrators, who wound up compensating the company in the amount of $400k in

[Differentfleas]

And with all this great news...........this piece of toilet paper continues to decine and slowly wind down to pennies!! Explain that !!

[EdinColorado]

"The employees are long gone...." We know they are gone from the employ of the company, but they could still be around posting on this board. That's the only reason I'd seek to explain some of the vindictive dialogue.

[Mitch43]

Wakey, wakey...How gullibe can you be?!... Those were not employees of the CO but the owners of Reliq controlling shares  making them the de- facto owners of Reliq, they are the ones who placed Lisa as the CEO and controlled her.

[kusio1]

The employees revelead that the product never worked, that the information given out in NRs and financial reports were fake. This was then basis to lawsuit that reliq had to pay off for 2.5mln dollars not to admit guilt. Since then, exactly the same thing is happening, and following these financials, you are likely going to see a quick lawsuit by PP participants with exact same result

[theinvestor22]

To assign any credibility to the statements of those former employees - who compensated the company for their alleged deliberately harmful misdeeds - made 5 years ago, is to show a lack of balance and perspective at the very least, and probably something much more sinister. Also, it shows no respect for the 380ish new contracting parties who each would have done their due diligence before

[kusio1]

People didn't give them much credibility until the lawsuits that reliq had to pay off. Until 5 years later there are still no collections, until 5 year later there are still contracts (which are essentially free, commitment free trial runs) that don't result in any payments. Only 5 years later of exact same behavior from the management and exact same results as during the pump and dump

[Mitch43]

Liar, Liar, pants on fire... Damn Lisa Crossley apologist!!!...  you wrote: "The employees are long gone and the business model was reworked, enhanced, expanded and improved since then.  Also, since then, the company has signed somewhere around 380 new contracts (vs. just a handful before the reset), signed new partnership agreements (one of which was with Cognizant, a very large

[theinvestor22]

It seems these people might have committed crimes against more companies than just Reliq.  If so, they should be punished severely

[Mitch43]

"It seems these people might have committed crimes against more companies than just Reliq.  If so, they should be punished severely" Correction: How old are you, how long did you stay in school, or better what is the name of your planet ??!!......This bullboard class wants to know! They didn't commit any crimes against Reliq nor its CEO Lisa Crossley ( which they controlled

[Whynottoday]

Well, as a CEO a penny stock with very little revenue not to know what was going on is incompetance in my opinion and she should have been fired long ago. 

[Mitch43]

Fired by who?! ... she was also the CO major shareholder with 1,6% of t6he shares (according to Yahoo finance)!

[Peggy123]

correct 22 She has been cleared but let them have thier fun  papi

[Mitch43]

Incorrect!... The Co was  cleared after Lisa settled out of court without contest  The $ 2.5million cad that was imposed by the BCSEC.  Which by itself is a guilty admission.

[Whynottoday]

Ok Mitch thanks...I didn't know that. So she was found guilty and settled. Hard to believe she lasted so long in the position of CEO and BCSEC did not have her removed as part of the deal and protect shareholders interests. What a mess.  All for now....and the best to those that remain as shareholders. Doesn't look good and hope for a sale of the company, if there is anything left

[EdinColorado]

There was no trial and no guilty verdict. Company just settled out of court and settlement was approved.

[Peggy123]

This post has been removed in accordance with Community Policy