Kontrol Technologies Corp N.KNR

Results?

[Mostlyserious]

Having a conference call before issuing results?

[Mostlyserious]

Results out on SEDAR but no newsrelease. Gonna have to wrap my head around how $28 million in accounts receivable are now uncollectible...everything fine in Q3 and then this..  We knew they were executing contracts at a loss due to higher costs, but that is the cost side.  Accounts receivable are supposed to be collected when you met rhe terms of delivering your contract.  It is

[Mostlyserious]

Read the MD&A quickly.  The demise of Global (and KNR's loftier ambitions) is effectively summarized as:  "Global’s large-scale HVAC operation is focussed primarily on high rise multi-residential. The acquisition of Global in 2021 added substantial new revenue and scale. However, as the Company was nearing completion of many sizable construction projects, Global’s operation

[Capharnaum]

This looks really bad. Considering how high the numbers are, I wouldn't be surprised if there was fraud underneath.

[Mostlyserious]

Based on the other board, PG is a hero for coming out clean on BioCloud.  Talk about holding someone to rock bottom standards.  Pumped up the potential, advised us of increasing manufacturing capacity, distributors, pilots, HC fast tracking of testing and then quarters or years of silence, followed by admission that it was doomed as soon as vaccines came out.  Doomed before so many

[Rogg47]

The other board is clearly a joke just like this one was during the pandemic, too many Pumpers/Cheerleaders with non sense!! PG a hero?!? Loll that's probably their worst one!! BC fiasco, HC fiasco, new listng fiasco, Global fiasco, financials fiasco, dilution fiasco, managing this company fiasco, etc, etc. everyone has his definition of Hero!! Lolll Any serious company/BOD would have kick him

[jawstoyz]

Probably him or his employees writing bs, you never know lol??

[Rogg47]

Short summary: 47M$ loss in 2022, 7.4M$ short term assets and 42.3M$ short term liabilities as of December 31st, next step is bankruptcy, it's over for KNR!!....   What a shame, a fiasco this story has been.... And PG is still onboard, what kind of BOD this Company has?!!?  

[Mostlyserious]

There is a lot of accounting stuff.  I think the point of bankruptcy is to relieve you ofbobligations so a lot of liabilities due to Global will be wiped off and then there was that private placement in q1. A lot of stuff will be cleaned up but this is a mucjh smaller company that is not comparable to what we were "sold".  Hard to believe anything they say....which is only