InformationI recently received an e-mail from Mr. Reitzik.
I think it would be good to share it with you all. DMG's year end is Sept 30, whereas most companies are Dec 31. In December 2018 CPAB put out new rules for auditors concerning crypto mining companies and MNP, our auditor at the time, didn't feel confident that they had the expertise to deal with this industry and dropped all 4 of their mining clients in January 2019. Our audit was due at the end of January (the other three FORT, HUT and Vogogo had financial filing deadlines at the end of April) so when MNP resigned from all crypto mining audits they did so only a couple of days before DMG's deadline. This put us off side with regulators and caused the cease trade order. Because DMG was the first we had to endure a "full review" by BCSC OSC and TSX which involved very detailed investigations into our financial reporting and took 6 months. DMG was cleared to relist with zero issues by the regulators, but the damage had been done. We are still exploring our options regarding this entire debacle that seriously damaged DMG shareholders without any sort of merit.
The irony is that DMG is now the technical expert for many of these auditors and we now provide technical on many of the audits of our competitors.
The other issue we had to endure was a rogue former director.
DMG has delivered consistent revenues and we are excited about the future. We have many projects outside of pure mining which are now starting to take shape and we will endeavour to keep our shareholders as informed as possible. To that end we hosted an extensive investor update a month ago - you can download the presentation at DMG's website and we have engaged a new IR firm to assist us with providing better communication.