RE: RE: Now what? After taking a look at all this, the "strategic direction" was
1. To loan the company some money.
2. To extract as much money back as possible through salaries.
3. Try every cockeyed scheme in the books to make this seem like a legitmate player as long as possible
4. Squeeze every last penny out of salaries before paying off creditors, including those who the company has business relationships with like Aeroplan
5. Wrap it all up.
I expect the TSX to come knocking on the door with a cease trade order. Not like it makes much of a difference anyways.
Despite being creditors, the insiders made their money. -$30M plus in accumulated deficit over the years. Most of that to salaries and benefits and other perks like meals and entertainment. Pretty sweet gig for 5 years of providing charity loyalty rewards services on the backs of shareholders and creditors. They just ensured that they were part of the creditors so the immediate appearance isn't one of an outright scam, but rather just some fellas who really did try their best but it didn't work out. But I bet if someone actually bothered to crunch the numbers, Campell, Farrell and the rest of the Ottawa crew made out like bandits on their 5 year trip on Bay Street.
Next thing you know they'll be the next David Lucatch where their next scheme actually catches on just by random chance. Then they can have a REAL BIG pay day milking Venture traders.