Post by
Chequers on Feb 27, 2024 10:04pm
Who are the regulators really good for?
the old adage never goes out of fashion "who is policing the police?" We think there is oversight but how can it be when we see no sign of it? It is a twisted system when the regulators appear to be in lock step with the company. There are so many unanswered questions starting with why can't the blindfold be pulled from the regulators eyes? It is about as simple as it can get, current fancamp management solicited a private placement to selected placees in the U.S., Canada and overseas. The placement "sound business reasons" statement is not explained and the fact the information relied upon for the placement was inaccurate as per the last MD&A tells me that the whole BCSC and TSX.V. departments for vetting such things should all be shown the door. It is all about principles. Even though FNC is a tiny company it is mighty in its inherent nature to deliver real promise to shareholders if managed in an ethical and full out corporate governance way. My theory is there is too much coziness and fireside chatting going on between the agencies (meant to deliver the highest standards of ethics and compliance rules) and the company. How can any regulator worth their salt not look at the facts and the timing of events? The company is well funded, it does not need to issue 60M shares to whomever including insiders. These chosen few could buy at their leisure in the open market, adding share price value. I repeat, there are no sound business reasons apparent for this calamity.