JOKEseems like there is allways a dispute with someone at this company.. probably a lot of money going up in smoke..
not going to have enough money..
On May 24, 2017, the Company announced it engaged an independent contractor as the procurement, engineering, and construction manager for its cannabis cultivation facilities at Telkwa, British Columbia (the “BC Facility”) and Henderson, Nevada. In June of 2017, Maple Leaf provided a deposit of $1,102,500 for this work so that it could contract with construction partners and move the projects forward. In September of 2017, a dispute arose between the contractor and Maple Leaf which is still being resolved. Management feels that the deposit amounts are collectible and therefore no allowance has been provided against this balance.
On October 24, 2017, the Company contracted an engineering company to guide the projects in Nevada and Telkwa to completion; no deposit was paid to the engineering company. Deposits of $330,634 have been paid to order products for the BC Facility.
On August 17, 2017, the Company entered into an agreement with an Engineering Firm to construct its cannabis cultivation facility in Henderson, Nevada for $2,995,000 USD. Maple Leaf has provided deposits of $900,000 USD, of which $535,000 USD ($696,018 CAD) had been recorded as development of the project as at June 30, 2018, and $365,000 USD ($477,106 CAD) was still in deposit. On June 20, 2018, the Company terminated the contract with the Engineering Firm. The Company has engaged counsel who has recommended arbitration with the Engineering Firm as per the terms of the contract. Management believes they had just cause to terminate the contract and will use all due diligence to recover the funds distributed.