Post by
123buyholdhope on Aug 09, 2020 4:33pm
HVV - Worst case of a Zombie?
A true zombie company – All the former management now gone; two to ‘pursue new interests’ and 1 other having died. The management is now made up of 2 ‘new’ individuals, both described as ‘interim’. The interim CEO is a former HVV CEO who just disappeared off the board a couple of years ago and now suddenly, he's back. The other, a former director who has also come back apparently to do the book keeping if the halt is to be maintained and the TSX kept looking the other way.
We are fast approaching a 6-year halt on trading in this company as it looks to do something new? Former CEO Burns indicated the company would be back trading in July 2019. However, originally it was going to transition from a gold exploration company to property management, but with the passing of one director whose other company was to be directly involved with this change in focus, guess what, now the aim is to go apparently back to mineral exploration. New release was supposed to be out two weeks ago and still no website or media.
Such zombies rely on fact that to chase them legally would cost shareholders more than would be recouped from basically a bankrupt entity. TSX the wildwest of markets?