Investment in Transnational Investment in Transnational
The compnay still has shares in Transnational listed as assets in their last financial statement. Do they not have to write if off like Organic Flower / Clean Power Corp SOW/ MOVE did?
Here is what Organic Flower / Clean Power Corp has in their financials, maybe this is the news release??
On September 9, 2020, the common shares of Transnational ceased to trade on the OTC Markets. Subsequent to the year ended June 30, 2020, the Company determined that it would not be able to recover the cash value of the convertible debenture. In addition, management was not able to reliably measure the fair value of the potential shares it would obtain upon conversion of its debenture in Transnational as they are no longer publicly traded.
Accordingly, the carrying value of this investment has been written down to $nil subsequent to June 30, 2020.