Do any of you actually read pertinent facts?In the recent filed $250M shelf prospectus, it states under the paragraph "SELLING SHAREHOLDER":
"This Prospectus also qualifies the sale, if any, by the Selling Shareholder of Common Shares, if and when determined by the Selling Shareholder and agreed to by the Corporation. As of September 21, 2016, based on publicly available information, the Selling Shareholder beneficially owns, controls or directs 45,622,854 Common Shares and 1,100,000 options, being approximately 52.3% of the Common Shares issued and outstanding and approximately 53.6% of the Common Shares on a fully diluted basis."
The audio recording that was posted here from the German news agency claims EFL management severly underestimated the financing needs of Litarion when acquiring them and they are in material financial hardship along with being victim of poor management decisions. It states it would be a shame for the plant to close for the sake of all its employees and Litarion hopes access to capital is easier in Canada than Germany.
EFL is bleeding cash right now. It is inevitable that a financing is coming, most probably before year end, of which the CEO will probably sell a bulk of his stock into and become an overnight 'tangible' millionaire for all his 'hard work'...
...I just hope all you honest shareholders get out before sh!t hits the fan.
P.S - Also, RE the latest LOI that was press released, you all may want to check SEDAR at the 'material change' filing 2 days after the press release which adds the words "non binding" before LOI. We've seen this act before...