RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Just Steps Away"...have you confirmed any of these “facts” with management?" I have no desire to speak to management whatsoever! If I were a shareholder, I most certainly would want to. But why do I need to 'confirm' facts that are put out by managment in their regulatory documents?
Here is how PREV's downward [financial] slide has unfolded...
Fact - PREV is in negative working capital territory.
Fact - in Nov 2017 PREV announces a Private Placement, but no takers
Fact - in Jan 2018 PREV revises the Private Placement, and two months later, still no takers and the placement expires
Fact - in April 2018 PREV announces another Private Placement, and two months later, still no takers
Fact - in June 2018 PREV finally gets some financial backers and fills the Placement
Fact - huge problem, the financial backers turn out to be the Bridgemark Group. And the only way to get them to commit to the placement was to promise them their money will be returned to them immediately upon closing of said placement, under the disguise of consulting contract fees.
Fact - the vast majority of these bogus Bridgemark consultants never even had a company website to verify their existence as legitimate contractors
Fact - PREV told the market the Placement funds would be used for Research and Development, but that was obviously not the case. For some strange reason, Van Deventer thought PREV needed millions of dollars worth of Investor Relations services!
Fact - PREV told the market the Placement shares would have a four month on them, but that was obviously not the case. Because the Placees [Bridgemark Group] immediately dumped their shares on the Open Market, after Van Deventer cut them their cheque to refund their placement investment....and crashed your stock.
Fact - Van Deventer [PREV] paid these bogus consultants millions of dollars 'up front', before any services were provided by them. And then they bolted!
Fact - PREV remains in negative working capital territory.
Fact - in Jan 2019 PREV put out an invitation to the BioTech/Pharma community seeking a partner for their Sol-Gel project - no one came forward
Fact - after zero interest in Sol-Gel from outside sources, Van Deventer's private company [Asterion] enters into an option agreement to buy 51% of Sol-Gel from Van Deventer's public company [PREV]. BUT, weeks later decides not to make the 2nd and 3rd monthly installments, and the 4th one is due this weekend.
Fact - PREV remains in negative working capital territory
Fact - PREV puts out all kinds of enticing and complex press releases about their projects advancing, but they all lack substance and market interest.
Disclosure: everyone of these facts was provided by PREV, via their Financial Statements and/or their MD&A and/or their Press Releases and/or their CSE Regulatory filings and/or their SEDAR filings and/or their stock trading activity.
Suggestion for you Jimmy....[and all other shareholders]....call management and ask them to explain these extremely disturbing facts that are sitting in their company records!!
First response you will get is......
"oh sorry, we can't comment on ongoing litigation". Good for you Van Deventer, you were given some wise counsel. :)
Jimmysgirl wrote: Wow this is getting really nasty ...have you confirmed any of these “facts” with management? Don’t most of these start up companies bleed a bit in the initial phases? ..isint it reasonable to have faith in Stevens capacity to build this company, and to seek advise if he feels the company is sinking ?? It sounds like someone advised him to move forward and seek counsel for the Bridgemark BS... he’s been in the capital markets a long time by the sounds of it.. the credentials of the research team and the stages were at with trials , well I dunno, but fundamentally this company still looks ok to me.