poor managementThe only company I am aware of that has 42 million dollars in the bank and can not produce basic numbers for the market. Extremely poor management skills:
See the facts on https://KRNshareholders.com
P.S. Goodman (CEO of Krn not around! , again)
Karnalyte receives MCTO from ASC
2015-04-06 07:04 MT - News Release
Mr. Ron Love reports
KARNALYTE RESOURCES INC. PROVIDES UPDATE ON ANNUAL FILINGS AND MANAGEMENT CEASE TRADE ORDER APPLICATION
On April 1, 2015, the Alberta Securities Commission granted Karnalyte Resources Inc.'s application for a management cease trade order (MCTO), as contemplated by Karnalyte's news release dated March 23, 2015. The MCTO restricts all trading in securities of the corporation, whether direct or indirect, by the chief executive officer and chief financial officer of the corporation. The MCTO will be in effect until the corporation's financial statements and accompanying certificates, and management's discussion and analysis for the year ended Dec. 31, 2014, are filed, or until the MCTO is revoked or varied.
The corporation continues to anticipate that it will be in a position to remedy the default and make the required filings on or before April 14, 2015.
The delay in completing the required filings is necessary because of discussions to obtain financing for the construction of the Wynyard carnallite project. The outcome of these discussions will likely have significant impacts on certain accounting disclosures, particularly with respect to the carrying value of the corporation's Wynyard carnallite project. There can be no assurance that the financing discussions will result in a financing proposal or that any such proposal will be completed so as to allow the commencement of construction of the Wynyard carnallite project.
The corporation has not taken any steps toward any insolvency proceeding, and the corporation has no material information to release to the public.
We seek Safe Harbor.