RE:RE:did someone kick over a rock or somethingThats a bash lol... Look i get being realistic but everyone assumes you pay lawsuits with your cash, but structured corporations use majoirty insurance. Think of when you get into a car accident, there's a deductible of course but much of the blunt will go through insurance, not only that but the lawsuit is against 3rtd party auditors, underwriters and ex board members who each have insurance... Canntrust will end up settling this matter after some time, the lawyers are aware of the shareholders value that still exist and it would be counter productive to destroy a possible revival of a company if a reinstated license happens.. BUT that's a big maybe.
At the end of the day focusing on a class action is ridicoulous at the moment because that will take time, right now focus on:
1. LICENSE REINSTATEMENT
2. TSX REGULATIONS SATISFIED
3. NYSE REGULATIONS SATISFIED
4. A POSSIBLE BUYOUT
5. CORPORATE PLANS TO MOVE FORWARD WITH ALL ABOVE
These all need to fall into place first. The way I see it , end of March will be Niagara facility reinstatement, as well as tsx annual filings all submitted.
Let's keep it short term, focus on the next 4-6 weeks, as that license can/will change everything if they do or don't get it.
ripperrrrrrrrr wrote: I'm not bashing this company but I can't see anything being left cash wise for the current common shareholders. Making the investors whole who were duped into the financing will eat up any cash left. Add in legal fees and managements past record of incompetence and the picture is even bleaker.
mdjbrown wrote: their sure crawling out of the woodwork today lol
This whole thing is a long, long way from over, so let it play out. We already know the deadlines, and those deadlines will come long before Canntrust files their statement of defense in the Class Action
February 14, 2020 - documentation sent to Health Canada regarding the completion of the Company's remediation activities at its Niagara Facility. This filing will be made in support of the reinstatement of that facility's licences.
March 25, 2020 - TSX disclosure
April 15, 2020 - NYSE disclosure
"CannTrust anticipates that remediation activities at the Company's Vaughan Facility will reach completion during the second quarter of 2020. The Company intends thereafter to submit the required documentation to Health Canada in support of the reinstatement of that facility's licenses."
$167 million can stretch things out a long ways so stay tuned!