Post by
kim2015 on Jun 11, 2015 2:12pm
Insider Transactions
Page 25 of Q1 2015 report said the Company successfully raised $12.878M
Page 26 of Q1 2015 Report said: CEO lend $729,756 to the Company at a whopping interest rate of 18% per year and remained as outstanding loan to Company paying 18% interest
Same paragraph said a director of Uhak (a company just joined Loyalist for a few months) borrowed $334,183 fom Loyalist.
These are fraudulent transactions,
Company raised $12.878M by issuing a ton of shares
Then CEO lends another $729,756 to the Company to earn 18% interest
Then the Company has so much cash they loaned the cash to a new joined director of Uhak in Korea?
Is the company cash rich, cash short or committing fraud?
Don't forget, Beacon Group advanced $5.25M to LOY earning only 7.5% interest!!! - page 25 of Q1 report.
Page 33 of Q1 report stated a $5.954 million operating loss(burn rate of $2M per month).
LOY had $5.7M cash as of March 31st., which should be dwindled to $1M as of this month.
Page 39 of the Annual Report said Housing Revenue was $5.934M. It also said Occupancy Cost relating to Housing was $7.097M = Net Loss of $1.1 million
Page 30 of Q1 Report said Housing Revenue for 3 months was $1.101 million, and corresonding Occupancy Cost was $1.946 million, = Net Loss of $841,000 in 3 months
Read for yourself under Sedar.ca Q1 report and look for that technical rebound on a fraudulent company... Page numbers are provided for your easy reference.
Comment by
nnneilio on Jun 11, 2015 6:03pm
Ah I see what you are saying now, I thought you meant they had cash on hand when the CEO loaned them money. My bad. I have no idea why they would not have paid off the CEO loan, only thing I can think of is they are already in breach of the bank debt covenants and if that gets called they will have no cash, and how bad will it look if they pay off debts to a CEO before their other creditors.