Genoil Inc GNOLF

RE:RE:RE:RE:RE:RE:RE:RE:RE:MCP

[eliner63]

B2: This talk of holding shares hostage, playing with shareholders etc. is nonsense.  How is the company taking advantage?
 
There is no doubt that completing the financials will have a positive effect on the stock and allow Canadian residents to trade again.  It would also bring in more buyers and recommendations that are restricted by the non-reporting status.  Management is aware of this and understands the importance in getting the financials done.  They also might have realized that if they had put all their resources into the financials, they would have had nothing in the way of contracts at this point.  With the average cost of reporting somewhere around $100,000 per year, they would have been trying to raise that additional amount of money with nothing to show.   Many companies on the venture /graveyard exchange have gone bankrupt by first paying salaries and doing the financials – meanwhile unable to raise sufficient money to advance a project.  Forget trying to raise additional money for salaries and financials the following year (got to be nuts), and the project then gets sold for cheap to pay off the creditors.

Maybe things could have been done better, but at least we still have a company today with a viable project.  The disconnect in share price only reflects lack of new buyers, that’ll soon change IMO.