Tuscany International Drilling Inc T.TID

Securities commission complaints - how to do it

[Fullblast]

Sent this message below to this address : [e-mail]

Fill the form from Alberta Securities here : https://www.albertasecurities.com/investor/recognize-report-a-scam/Pages/file-an-investor-complaint.aspx

And the Ontario Securities Commission : www.osc.gov.on.ca/en/Investors_questions-complaints-index.html

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I would like to complain in regards to Tuscany International Drilling (TID).

This member company filed for Chapter 11 / CCAA protection in the USA on Sunday Feb 4, 2014. In December 2013, a registered insider Bruce Moyes; current Vice President of Finance for TID sold approximately 1 million common shares. This sale was succeeded by 3 press releases on Jan 16th 2014 and Jan 27th, 2014 and Feb 3, 2014. Each subsequent press release was of a material event, and the common equity share price decreased by 71% from the date of the first to third release ($0.07 CAD to $0.02 CAD) at which point the company filed for bankruptcy.

TID only has 3 officers; it seems completely illogical that the entire management and director group was not all in blackout. Especially considering the press releases occured within weeks of Mr. Moyes dispositions. Anyone acting in a senior executive capacity, especially one intimately involved in the finances of the company, would have material inside information that should preclude them or from taking any action up to and including trading the companies common equity.

Thank you for your consideration and update on the matter.

X

[BigA!]

Email: [e-mail] Fax: Attn: Case Assessment; [phone] Mail: Attn: Case Assessment Alberta Securities Commission 4th Floor, 300-5th Ave SW Calgary, AB T2P 3C2

[Oldfloortrader]

got acknowledgement back from ASC

[mcarter4]

done as per directions provided... thanks to all who are taking their time to move this process along.  Re M&P sell back if i remember correctly the purchase of M&P's Africa business is well described in last years AIF (and i suspect other documents). i will try and compare the buy vs. the sale, as as best i remember TID took on a whole lot of debt related to that buy and i now

[khaledb]

They paid 120 millions $ (cash)   + 109 millions TID shares (in that time almost for 1.00$ a share) So they paid almost 220 millions $ ...and after less than 2 years they sold it back to M&P for 50 millions and  they cancelled these worthless 109 millions shares.   And now :  the only loosers are the common shareholders. CS with assets value exceeding debt ..will

[dogtoobad]

Khaledb..look at the timing....M&P deal announcement on Dec 23 2013, closed on January 16 2014, filed bankruptcy on Feb 2 2014!!! Like I said, I do not understand the strategy of taking a huge write down, and accepted worthless shares for payment, when the company needs cash. M&P apparently likes the assets to buy them back. And if the Company knows M&P likes the assets, why sold back

[Fullblast]

Dogtoobad, great questions. We'll forward them to our near future legal counsels. I also suggest that we put any questions of that nature directly to "onthecase" or me. Let's remember this is a public forum. Thanks and do not despair.

[dogtoobad]

Thanks for reminding me it is a public forum. I based on facts and information available in public domain. Everyone is entitled to ask questions to enlightening their intellectual curiosity. I hope I can get a response from people who involved in the decision making. This is in no way bad mouthing them.

[khaledb]

Don't forget that TSX  delisting review  was caused by this transaction.... That means TSX found that something is wrong

[dogtoobad]

Sorry I wasn't aware of that. thanks for the clarification.

[Fullblast]

Dogtoobad, I apologise, I know I don't have to remind you this is a public forum and certainly don't want to stop you from asking questions. The fact is that hundreds of questions are without answers right now. Someday we'll have answers. My point (concern) was that I take for granted that everything that we write here is being read by those creeps on the other side. No harm intented

[onthecase]

Too right, Fullblast. Dogtoobad, this movement has only gotten so much accomplished because so many people contribute information and questions. Please do keep digging. And bear with me if it's taking me a while to answer this quantity of emails, but rest assured that everything - EVERYTHING - is contributing to our file. I just wish I could report more openly right now. But soon enough. As

[dogtoobad]

Fullblast....Your points are well taken. They are welcome to read what they want to read and interpret whatever ways their hearts desire. Facts are facts. Nothing goes further than the truth. Its hard not to get upset when so many people loss their savings. This company was once an investment darling worth $600 million only 2 years ago!!

[dogtoobad]

I meant this is an arm length major transaction with a major shareholder and board members. Would this subject to huge amount of scrutiny from the other independent board members? And perhaps it required shareholder approval? or Have they had shareholders approval?

[andros28]

Why didn't they sell some if not all of those shares from the M&P transaction  while they had some value, to generate a cash cushion until they can sell some assets for non firesale prices. Am i missing something?

[dogtoobad]

andros28...tough to sell a block when the trading was weak, or perhaps nobody wants them?!