RE:RE:RE:RE:RE:RE:RE:RE:RE:Is This The Future?70. Third, Dr. Qamar informed Durkacz that there were seven or eight clinical trial agreements that needed to be reviewed by an attorney. In particular, these agreements included indemnification language that needed to be thoroughly studied, because the language could impact the liability of FSD BioSciences and FSD Pharma in connection with the trials.
71. Even though Durkacz was directly told of this issue by Dr. Qamar, he took no action. On information and belief, Durkacz took no action in furtherance of his plan to cause the clinical trial to fail and enable the acquisition of Lucid, which was in his personal self-interest, to proceed. Durkacz’s actions operated to the direct and substantial detriment of FSD BioSciences, FSD Pharma, and its stockholders
JAKPUG4LIFE wrote: 57. Durkacz and Saeed’s reaction was an out-of-place response to a run-of the-mill corporate decision made by the board in the exercise of its business judgment. It was only later, when Durkacz belatedly disclosed in some detail that he had a material financial interest in Lucid, and therefore stood to benefit from FSD Pharma acquiring Lucid, that his over-the-top reaction could be put in context. In fact, the company majority-owned and controlled by Durkacz, First Republic, owned an approximately 7% interest in Lucid and had conducted two rounds of fundraising for them.
58. On information and belief, Saeed also has a personal financial interest in Lucid.
JAKPUG4LIFE wrote: Durkacz
Durkacz: He had an average loss of 92% over 11 stocks in which he had been involved, and He has received over $28.7 million CND in cash and warrants for being both a director and broker for FSD Pharma via First Republic.
DavidRosenberg wrote: Mil_Man54 wrote: LOL....you don't actually expect us to but that BS you're spewing.....AD has been part of the problem since day one and still is....and don't forget the only reason Raza was ousted was because he didn't buy into the Lucid deal which AD was invested in...so if Lucid wasn't a thing...Raza would still be the CEO....just remember that pumper....
DavidRosenberg wrote: Mil_Man54 wrote: Still trying to put all the blame on Raza there pumper......because AD is your proclaimed saviour of us all and can do wrong.....
DavidRosenberg wrote:
hashboy18 wrote: Whats so silly is these two clowns gained control of 43 million in the til that the former ceo raised . They are using that money to fight him in court..
Raza never updated his shareholders how many COVID-19 patients were tested where are the results of those trials he failed to create an AGM meeting they could have of done it digitally
AD was the saviour form raza now he needs to find a CEO to replace himself
AD did what he could to save the company and our shares now it's time for him to find someone capable to grow shareholder value because his skill set is for investment banking not to be CEO...
time will tell
no way
Mr. Durkacz said, "Undertaking these material transactions as proposed was simply not in the best interests of FSD and its shareholders - nothing about the process of their approval and execution was normal or appropriate. These were improper, self-serving tactics by Dr. Bokhari and the collaborating directors to preserve their positions at FSD while they continue to enrich themselves and we are relieved that the court put a stop to this misconduct."
FSD's information circular for the Meeting discloses that Dr. Bokhari received over $24 million of compensation from FSD between 2018 and 2020. In addition, in February, the board awarded Dr. Bokhari a further $5.7 million in shares for services to be provided in 2021. The FSD circular also discloses that Dr. Bokhari is claiming entitlement to a further $30 million if his employment is terminated. This extraordinary personal enrichment at the expense of FSD shareholders must be stopped.
On May 14, 2021, shareholders will have the opportunity to put FSD back on the path to success. Mr. Durkacz encourages shareholders to VOTE THEIR SHARES USING THE GOLD PROXY to elect the Concerned Shareholders' Nominees, saying, "Shareholders have a right to determine the future of our company and these outrageous efforts by Dr. Raza Bokhari and other directors to frustrate that right only reinforces the urgent need for change."