Bullboard - Stock Discussion Forum Radient Technologies Inc V.RTI.H

Alternate Symbol(s): RDDTF

Radient Technologies Inc. is a science-based company. The Company is a commercial manufacturer of cannabinoid-based formulations, ingredients, and products. The principal activities of the Company and its subsidiaries are engaged in research, development, and commercialization of an efficient and environmentally responsible technology for the extraction, isolation, and purification of soluble... see more

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TSXV:RTI.H - Post Discussion

Radient Technologies Inc > Part of the scam?

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Post by lovesawdust on Oct 09, 2021 12:27pm

Part of the scam?

Here's a paragraph from an article on BNN today! I guess we can kiss our investment in this company good-bye! Sure glad I got out of Aurora in March 2019!

The class-action lawsuit, which was filed in a U.S. District Court in New Jersey on Tuesday, alleged that Aurora and its executives engineered a way to artificially inflate the company's fiscal 2019 fourth-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by selling $21.7 million worth of dried cannabis to Radient Technologies Inc. in June 2019 in a deal that "lacked commercial substance". The filing further alleged that Aurora later repurchased that same amount of dried flower back from Radient, an Edmonton-based cannabis extraction firm in which Aurora has a 12 per cent ownership stake as well as control of one board seat.

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