Trying to fully understand the related party booked revenueFrom third quarter in Candian dollars.
$13m booked as trade receivable , per note with security ( because entity was cash flow negative must have been against stock holdings.
No provison taken against collectibiloity
20 percent discount booked to effect a third party purchase of note , with subsequent slae of insider block #( million shares .....in effect about 25 cents a share.
Accurate third quarter numbers reflecting this transaction would have put the company not just a little offside , but way offside on BMO covenants .....again wonder on impact
Worthy to note there was not an auditor review of these numbers due to laate receipt of apotential claim
The related party revenue item as a percentage of non acquired revenue quite a large percentage ,cant calculate but certainly north of 25 percent
Strange set of circumstances makes me cautious in accumulating any further until second quarter numbers are released ......so on the back burner until clarity