hmmmmmmmm wrote: Was it a “Material Change”?
First off. It is a terrible sign when a company enlists "legal counsel" to try and avoid clear material change disclosures and basic transparency.
Second. It would be simple to show a court a dozen+ instances where Spectral pitched the value of the DIMI and SAMI to raise money from investors.
Third. Spectral lost control of DIMI and SAMI. Instead it now has a minor percentage of an undefined and as far as can be see unlisted entity. I’ve seen zero proof I-Dialco even exists.
Forth. Millions in investor’s dollars were spent getting FDA approvals for DIMI and SAMI.
Fifth. Spectral has given up those FDA approvals. For a magic bag of beans? We have now idea. Investors paid for these approvals, but they are now being told have no legal right to know what has happened to them.
Sixth. On October 5th Spectral added the Dialco Nov 30th contract update to the Financing PR. They knew this was a material issue and it needed to be disclosed under the scrutiny of financing. I’m sure the very same legal counsel advised them of that fact. To know claim that the outcome is not material is ridiculous on it’s face. Especially as it culminated in the loss of control of the aforementioned assets.
Seventh. To say that post hoc movement of the share price on a vague PR could determine whether a material change occured is willful ignorance of the law. It is unbelievable any legal counsel would dare present such reasoning as proof. As an investor and like most investors I wanted to see the Material Change Report to understand what was given up and what was gained from the material change.
Eighth. On April 8th 2021 Spectral announced a “20 Year Exclusive License Agreement for DIMI” the stock moved from .51 to .57 on the news. But legal counsel somehow states the loss of that license agreement would have no effect on value?
Ninth. Spectral’s only analyst moved the value of Dialco to Zero on the vague PR. And stated there would be no way of determining Dialco's future value until they saw the Material Change Report/ Contract.
Tenth. To respond with an anonymos post on this board is beyond a chicken sh** move. Spectral is clearly afraid to make this a public company statement- so they have chosen the least professional way to deal with a tough situation once again.
And lastly. Spectral Management, Spectral BOD. If this is your stance- you are in the wrong. And you are disrespecting every last shareholder.
I will add, that you just took something that was financial issue and made it a very personal one.
After reading your legal counsel's very soft reasoning I am very much looking forward to making this a legal matter.