RE:Here's a good synopsis of the situationI know option # 1 , is what they are planning for but option # 2 , is the right way to go. Within a very short period of time lawyers can sell and re apply with new ownership and the Government would have their clean organization to support and keep the jobs going.
# 1 , they end up in a pissing match with a Government that does not want to lose face and must set an example to all would-be crooks that the toleration level for criminal involvement no matter how mis-applied the law may have been in the pas, t is in fact ZERO !
Hopefully their lawyers can walk them properly through the scenario.
It is too bad that the same laws are not applied to those who are sanctioned to VET these upstart companies. How much investigation went into ANST application and it's participants. Any MJ start up especially, should have been looked at under a microscope due to the ambiguous nature of the Federal Laws prior to legalization. What do you think will happen on the U'S' side if the Attorney General gets wind that criminals are involved in Canadian companies operating in the U.S. ? ( it only takes an E mail ) You can't even tell border security your investing in MJ companies. You say "No comment" and turn back.
How many times in the future will little people who have done extensive D.D. on a company, lose their collective shirts because something like this happens. Millions of dollars were lost yesterday and it's only going to get worse yet no one is accountable to the investor.
I personally spent two weeks doing my D.D. on this company and had two major banks do the same and no one came back with this kind of trouble. Even after the first sanction the best anyone could find out was it was an " accounting logging issue primarily" which clearly was a bold faced lie.
There is no solace in the fact that I know there are otheres here that lost as much or more then I did. Having your car stolen with no insurance does not feel better when 10,000 others had the same thing happen to them.
I'm all in on a class action. Not likely anyone will.
JMHO