RE:FoulGoing for the TSX Exemption tells me Raouf and Co. don't have enough shareholder votes to approve this kind of dilution. Financial issues or not. I suspect Raouf figured that out at the AGM.
1. Also it shows that SEV has no real group of shareholders or controlling shareholders. If they did then that controlling group would be able to ensure enough votes to get the PP Dilution Passed.
2. Or it could indicate that any real groups of larger shareholders don't agree on the PP.
If SEV survives the next couple of weeks as a publically traded company they may find themselves on the Venture Exchange instead. I am suprised they didn't release Q2 Earnings along with this yesterday. I am sure they are ready. However this release is a real indication of how things went in Q2 and how Q3 looks so far.