RE:RELIABLE SOURCEAuxleys own press relese says that FSD terminated the agreement so are you saying Auxley is lying to its investors?
From what the PR says XLY had some concerns with FSD holding up thier end of the agreement and went to FSD with those concerns to try to have them rectified. Then FSD decided to try to back out of the deal.
So far $7.5 million was invested and I would assume by terminating the agreement FSD would at the very least be responsible to return those funds to XLY.
This is the 2nd time FSD has backed out of a binding agreement. They had a binding LOI to TRPX and then refused to honor the terms of that and now a difinitive agreement with XLY where money has already changed hands.
They were not going to get much product from the FSD deal until 2020, maybe one crop in Q4 so this will not have a material impact on their financial results in 2019 and they now have $50million extra cash to work with.
XLY is down 5% and FSD is down 20% with the news so the market sure thinks this is worse news for HUGE then XLY