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The Medipattern Corporation V.MKI



TSXV:MKI - Post by User

Post by fjrmotoon Mar 13, 2013 12:54pm
110 Views
Post# 21123334

So...

So...

We raised 1.5 milliion on the promise of great technology/ research when cashflow was low, the money was needed to rollout VV. Instead, the company out of the blue buys Smartcoach, a non complimentarty product which has huge quality control issues and liablity for warranty returns. We agree to pay whats left of the original company to deal with the day to day operation, (which cost us a quarter million this last reported quarter)while we totally ignore the marketing and expansion of VV. Then we start with $3 million in writedowns for our new aquisition!  Now that the stage is set, the last financing which transferred title of all of our promise and value was transferred away for 154,000$ and we are left with a shell which still carries the liability for smartcoach. How could this be done with a straight face, where was the board of directors, who signed off on this?

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