Great Lakes Graphite Inc GLKIF

NovoCarbon US -sedar filings

[smallcap1967]

The recent sedar filings clearly state that all officers and directors have resigned. The exchange only requires resignations in the case of criminal conduct and there are no pending charges. Consequently, the company could not approve any deal as there is no governance. What is interesting about this is that NovoCarbon US shares (the subsidiary) are held in trust by Paul Ferguson “ until the appropriate time”. Also the Freguson family has secured debentures which are in default. I believe that GLK is bankrupt, but the subsidiary NovoCarbon US ( the only asset) will be owned by the Ferguson family, as  it was  security for their loans. So sir, yes, Paul Ferguson is working - for his family, and no longer for GLK, as he has resigned.

 

[gambler*]

This makes the most sense but I certainly hope you are wrong. 

[Luckierjack2]

Thanks for the insightful post SmallCap1967. Makes a lot of sense to me. 

[Floridas2000]

Thank you, this is very helpful.  Note:  Mike didn't resign so he can still work for Novocarbon.  They are definitely in default but that's not new, they have stated that before and Luckierjack has also mentioned it many, many times before.  We can only assume they're bankrupt.  Looking at Sedar it is not stated once that they are.  Almost all graphite JVs

[WidowAndOrphan]

Mike put an end date to his time with Novocarbon on his professional page.  It appears poor Gershon is the only employee left. Congrats on your promotions Gershon.  CEO, CFO, Head researcher, Receptionist.  Great parking at the headquarters. I'm trying to find humor in this.  

[Floridas2000]

Thank you.  Then it's probably over.

[gambler*]

NovoCarbon is a wholly owned subsidiary of NovoCarbon (Great Lakes Graphite) I am no expert but that sure sounds like anything NovoCarbon related is owned by GLK.  Any experts confirm that?

[WidowAndOrphan]

Maybe i can request a crucible as compensation for corporate misdirection.  I would then bronze it and use it as a backyard firepit and a constant reminder of this lesson.  I will need to hear the final story with Florida to fully understand what lesson I learned.