CVR Medical Corp CRRVF

CVR MEDICAL CORP

[ICT1111]

Nothing has changed folks.

Medical, Global, The TSX and BCSC could all potentially torpedo any deal. They all have to agree. If one doesn't, the deal fails.

At the moment the directors of Medical say that the deal that they have agreed with the TSX and the directors of Global and posted on sedar late last year is a good deal and that the shareholders of Medical should consider endorsing it ........ but the deal creates another 55m shares for Global and 55m C$0.10 warrants for Global but does not raise any of the money we need to move the project forward.........

I think the deal is uninvestable ...... new money will be asked to pay old debt and will have to be raised at a similar price to the C$0.10 warrants and there would be c240m shares in existance before any fund raising starts........ Incoming investors will be asked for their hard earned cash whilst watching existing shareholders issue shares and warrants at zero cost..... it will not wash.

I can only imagine that the board have failed to find investment into their new 'sedar' plan. It comes as no surprise, I wouldn't invest nor couldn't I recommend investing.

So, what now?
We were due our AGM 2 months ago.
The interim CEO and CFO will be under pressure from the exchanges to hand over to perminent directors at the AGM.
Neither company have the cash to pay the audit, legal and exchange fees needed to hold the AGM.
The directors have no D & O insurance.
No sign of investment.
Little sign of credible leadership.

but there was once a term sheet on Joe's desk ........ signed by all the Medical directors, it is probably in the bin now, their plan was obviously better.

[Anthdino]

Yikes. Seemed like they had things moving forward the first bit till the recent hibernation of news. What the global folk need to know is that this tech is almost dated and gonna be worthless soon

[Aquaman11]

Had not stopped by in a little while. Your topo is exactly what I feel ICT!... People never change unfortunately...  I know you had some hopes on the new CEO to maybe help somewhat ...but I still feel CVR needs a thourough cleansing with all new people who show they have the shareholders, the company and the technology (and all the lives it could save!!) at heart and not their personal

[OleMule]

ICT & Aqua- thanks to you both always straightforward posts. To Rhoades, Blunden, Lynch, McKenzie I hope you all follow this as the sentiment hear is what will either sink or pass your efforts. These guys have a pulse of the shareholders and anything you hope to pass must be approved by the majority of the minority which is the shareholders. You better be listening!! 

[ICT1111]

Yes, yes,yes, agree with everything..... Why cant they see the wood for the trees??           No idea! 1/ There are some who passionatley care about getting the device to market for the sake of humanity. 2/ Others who are intent on getting full cash value (per hour) for their commitment to the old cause even though, in a commercial sense it failed and both companies

[woundedknee]

Aquaman,I agree with everything you have posted. As long as there are those directors still on the board that charged 30% interest on personal loans to CVM there should be no support for these crooks. I don't know what the end result will be. I only hope as you say that this is "cleansed" completely, even if it means decimating the existing shareholders. The CSS is too important to