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GrahamB wrote: Just checking in, as plenty of back-and-forth about posters rather than the financials for current events. Thought it might be useful to highlight recent events Stock performance,:Down from about 12.00 to$.60, or about 93% decline Minimal liquidity Financials: net working capital of $1.7 million, and ongoing 30 million + losses-suggest in solvency risk issues, and need for a cash raise unless sales start in earnest MANAGEMENT: ‘“AMF alleges that Mr. Pascali was in breach of section 199.1(2) of the Securities Act (Qubec), that Mr. Pascali and the Company made misrepresentations in breach of sections 196 and 197 of the Securities Act (Qubec), that Mr. Pascali and the Company failed to comply with certain disclosure obligations under applicable securities legislation, and that Mr. Pascali and Mr. Curleigh failed to comply with their fiduciary duties as directors of the Company. The AMF is seeking administrative penalties totaling $4.20 million against Mr. Pascali, and a disgorgement order of $9.57 million to the AMF also from Mr. Pascali. The AMF is also seeking administrative penalties totaling $550,000 against the Company. Separately, the AMF is also seeking orders prohibiting Mr. Pascali and Mr. Curleigh to act as an officer or director of a reporting issuer for 5 years.’ Sedar.com Management also has had significant insider sales all imo do your own dd
Just checking in, as plenty of back-and-forth about posters rather than the financials for current events.
Thought it might be useful to highlight recent events
Stock performance,:Down from about 12.00 to$.60, or about 93% decline
Minimal liquidity
Financials: net working capital of $1.7 million, and ongoing 30 million + losses-suggest in solvency risk issues, and need for a cash raise unless sales start in earnest
MANAGEMENT:
‘“AMF alleges that Mr. Pascali was in breach of section 199.1(2) of the Securities Act (Qubec), that Mr. Pascali and the Company made misrepresentations in breach of sections 196 and 197 of the Securities Act (Qubec), that Mr. Pascali and the Company failed to comply with certain disclosure obligations under applicable securities legislation, and that Mr. Pascali and Mr. Curleigh failed to comply with their fiduciary duties as directors of the Company. The AMF is seeking administrative penalties totaling $4.20 million against Mr. Pascali, and a disgorgement order of $9.57 million to the AMF also from Mr. Pascali. The AMF is also seeking administrative penalties totaling $550,000 against the Company. Separately, the AMF is also seeking orders prohibiting Mr. Pascali and Mr. Curleigh to act as an officer or director of a reporting issuer for 5 years.’
Sedar.com
Management also has had significant insider sales all imo do your own dd
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