RE:RE:RE:RE:RE:Rough calculation of stock market's excess discount...55cJusthalfful - responding to your comment :
"They have to disclose when the change is a significant deviation from their norms. So for a company with negative cash flow in both q1 and Q2, totalling $5.2 million to suddenly have a positive cash flow of $30 to $50 million in Q3 would be material. They did not disclose it, so I will presume it is less than that, and not material. So less than $10 million positive would fit the bill."
There is nothing in OSA or TSX Manual that says:"They have to disclose when the change is a significant deviation from their norms."
The TSX Manual seems more strict than the OSA. The OSA seems to only require immediate disclosure of "material change", as compared with the broader "material information". The latter includes changes to revenue etc etc that would result in material change to the share price.
Re TSX requiremment - which based on many other issuers habits are not followed by all - QTRH's position is likely that they had announced they expected positive H2 results. So, an agreement consistent with that would be consistent with QTRH prior dislosure, and that as a result of the prior disclosure, the licensing deal should not result in a material change to the share price.
I suggest you read much more carefully before advising others what they do or do not understand.