ONE:
When a company "writes down" the value of an asset, it doesn't mean the possession of that asset disappears. The process of writing it down is simply an accounting function.
The challenge here is that Meni's intention was to financially squeeze Choklat which he hoped would either end in the receivership of the company (which they would buy the remaining amount for pennies on the dollar), or I would give up. He wanted to create the optics of Choklat being a "bad investment".
What he didn't account for was my ingenuity and perseverence, and the fact that I was able to close a much bigger deal with a much bigger cannabis company and get a good portion of that initial production run to market without issue.
IMPORTANT: AGLC saw what was going on. Their category manager at the time intentionally reached out to Sundial to ask for help. Sundial's CEO then contacted me directly to offer help!
This is what caused Meni's problem and where the fraudulent accounting practices come in. The investment should have been brought back onto the books because it could be proved that there was in fact value to it, and that value had increased. However they would have then been required to pay Capital Gains Tax on the appreciation.
TWO:
Lifeist is the investor in my company, NOT CannMart. Lifeist still owns the shares they purchased from me. Those shares have value - clearly because my company is worth more than Lifeist today. There is no shareholder agreement in place, so Lifeist is free to sell them to whomever wants to buy them. But let me reiterate: THERE IS SIGNIFICANT VALUE IN THEM.
If Lifeist wishes to "throw in" the shares they own of my company as a bonus for selling CannMart that's their choice, but make no mistake about it, the shareholders of Lifeist will get screwed if Lifeist's BOD chooses to do so. If you believe any different, have another sip of that Koolaide!
The lawsuit is between CannMart and Choklat, and the $26 Million countersuit I am pursuing is for egregious breach of contract and ongoing harm. The new owner of CannMart should be very aware that this hornet's nest comes with it along with 4 years of well documented and planned pain and suffering by my company, my team, and me. They are eff'd. Period.
THREE
Whisky: Meni paid himself $500k per year with your investment. I paid myself by unquestionably believing in myself, and clawing back more equity in a company I built and was in threat of being taken away from me. How do you suggest that I get paid? Like I said: Nobody works for free. Anecdotally, Even though my company was doing much better financially than Lifeist, I allocated myself a much lower salary than Meni was taking from you investors. This year my company will be modestly profitable and able to begin paying down debts incurred during the "CannMart years".
FOUR
On another forum I offered to take over turning around Lifeist for 10% of gross profit instead of a salary. I've already proven that I can add $100 million in value to a public company. I don't need to prove it again. I just need to do it, and if so Lifeist shareholders recoup some losses and I get paid. If there is no gross profit I don't get paid. Seems pretty fair to me.