RE:RE:RE:RE:RE:DisclosureQuite the hole dug by JHFLL . And I am sure the TSX janitor staff all miss working along side JHFLL during his 15 years there.
This is for anyone that might think JHFLL logic is sound and might sell shares based on his analysis. See below - he argues that Aritizia's recent revenue beat was not as large in percentage terms as would be a revenue beat by QTRH/ WILAN. So WILAN would be more material. Nonsense. Material is material.
I recall Aritizia shares moved up about 18% on the PR last week. Clearly the new information had a material effect on its share price. Aritizia did not pre announce. JHFLL is saying that WILAN revenue of say 50m would be relatively more material. Nonsense. Material is material. Furthermore, QTHR have conveyed to the market what they expect for H2, and that is effectively disclosed, so they do not need to pre-announce.
Even if you accept that "material facts" such as earnings beats must be disclosed in real time (which appears to be the TSX requirement, not the OSA's (Ontario Securities Act)), QTRH position would be that its disclosure re 2021H2 revenue expectations has already been made - similar to Aritizia's prior dislosure in prior MDA.
"Shareholders argument is that Aritzia had a $50 beat and did not report. Aritzia has quarterly revenues of about $350 million. They gave guidance that revenues would be in the $300 million range, up 40 to 50%. It was up to $350 million. Hardly the same comparison with Quarterhill who had ANNUAL revenue for Wi-Lan (last time I checked, IRD did not have licensing revenue) in the $80 to $100 million range ANNUALLY. $50 million in that case would certainly be more material than $50 million on a company with $1.4 billion in annual revenue."