RE:March Progress Report Due Before Market Open TomorrowMarch report out. It doesn't give a whole lot in the way of clues on where things stand. Text follows:
During the month of March, Lifestyle Delivery Systems Inc. continued the renovation and improvement of the permitted facility in Adelanto, California in anticipation to commence manufacturing CannaStrips as part of a joint venture partnership with CSPA Group Inc.
During March 2017, the Issuer’s management was overseeing construction of the permitted facility in Adelanto, California. In addition, management continued working with Canaccord Genuity Corp. (the "Agent") on the the due-diligence required to complete the agency agreement for its brokered private placement of units the Issuer announced in February 2017.
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Stranius wrote: Monthy progress report is supposed to be posted before tomorrow's market open. Look for additional management colour in that report.
Other than the announcement of the PP and the upsizing to $12M (both in February), LDS has not had a meaningful press release since November 2016. The monthly reports, for the time being, have been management's only way to update shareholders.
Having said the above, don't expect to see a "newsy" update as the purpose of the report is as follows:
[The] Monthly Progress Report must be posted before the opening of trading on the fifth trading day of each month. [The] report is not intended to replace the Issuer’s obligation to separately report material information forthwith upon the information becoming known to management or to post the forms required by the CNSX Policies.
[The] report is intended to keep investors and the market informed of the Issuer’s ongoing business and management activities that occurred during the preceding month. Do not discuss goals or future plans unless they have crystallized to the point that they are "material information" as defined in the CNSX Policies. The discussion in this report must be factual, balanced and non-promotional.
~S