Spectral Medical Inc T.EDT

Response from Spectral wrt to Dialco

[Eazeetrade1]

See response below;
 
Information regarding the restructuring of Dialco in contained in our press release of December 13, 2022 (the “Dialco Restructuring”).  Having reviewed and considered this matter internally, as well as consulting with external legal counsel, Spectral  has determined that the Dialco Restructuring was not a material transaction for it - whether from an asset, income or strategic perspective or otherwise.  Nor did it constitute a material change for Spectral such that it was of the nature of a change in the business, operations or capital that would reasonably be expected to have a significant effect on the market price or value of any of the securities of Spectral. This determination was validated by the fact that there was not in fact any material change in the trading price of the Spectral common shares on the TSX in the trading days following the public announcement of the Dialco Restructuring.
 
As such, Spectral was not required to file a material change report in respect of the Dialco Restructuring, nor was Spectral required to file or publicly disclose the transaction agreements relating to the Dialco Restructuring (the “Transaction Agreements”) on SEDAR.  As such, given that Spectral is not required by law to provide additional disclosure regarding the Dialco Restructuring, the provisions of the Transaction Agreements prevent further disclosure of the confidential terms of the Transaction Agreements without the approval of Infomed, which is not forth coming.  However, some further details of the Dialco Restructuring will be contained in our annual financial statements and accompanying MD&A for the period ended December 31, 2022, which we expect to publish at the end of March 2023.

[Accountprince]

Thanks Eazeetrade1 for sharing Spectral's response.  So they are now saying it's not material?  They had dedicated a lot of press to SAMI and DIMI in every publication they gave us as shareholders. So why so much press for something that's not material? And how is the ownership of a disruptive technology in a multi billion dollar market not material?  The explanation is

[mercedesman]

I have to agree that the iDialco transaction is most likely material, and worthy of more complete disclosure, for a variety of reasons.  The fact that most shareholders that I talk to, and here on SH, think it is, or must be material - is almost reason enough.  Materiality, in my mind, is anything that is likely to impact investors judgement regarding the value of their investment (and

[hmmmmmmmm]

Was it a “Material Change”?   First off. It is a terrible sign when a company enlists "legal counsel" to try and avoid clear material change disclosures and basic transparency.   Second. It would be simple to show a court a dozen+ instances where Spectral pitched the value of the DIMI and SAMI to raise money from investors.    Third. Spectral lost control

[Quacker]

Excellent post. Management should immediately release all information on the sale of DIMI and Sami. This is really starting to smell. Should we be wary of our other Asset and what may happen to it???

[BayStreetWild]

this is such a logical post. Thank you for taking the time to write it out, the rest of us don't even have the energy to argue any more or point out the obvious... because quite frankly these people are beyond mending. I've personally resorted to sarcasm because I own 1/50th of the shares I used to have here and just follow it to watch what disaster unfolds next. It's a literally clown

[BayStreetWild]

just remember, you paid for their salaries... plus for the law firms legal bill to draft this opinion... PLUS for IR that wrote this response and then some "anonymous poster" put it up here. Everyone is getting paid.... from your hard work... so that in the end they can tell you... hay man, remember that thing we promoted and raised money on the back of in every single presentation for

[BayStreetWild]

Science ™