Thanks for sharing the Press Release.
IMHO the total charge of almost 9 millions will kill the stock.
If permitted by Canadian fiscal laws, I would have amortized these charges over a long period of time, especially in view of the fact that the products for which these charges were incurred may be marketed in the future, not near term, as indicated in the release.
This important charge supports my views that previous management was in the clouds as far as product development and market possibilities are concerned, and with the support of the "external associates" "pumped" the stock price with false information to "dump" its shares,
and get out. I am not an attorney, but it appears that a crime has been committed.
It is encouraging that sales of Touchstone have commenced, however an order worth 100,000 dollars, with the buyer who does not permit its name to be announced at this stage, does not inspire great confidence.
I was sure that Tom Grecco knew what he was doing; continue to hope that he can make the miracle!
In one of my previous posts I was suggesting the creation of a Shareholders Action Committee to interact in an orderly way with the Company and to protect our interests. I did not see any reaction, positive or negative. Does it mean that all contributors to this thread have sold their shares at a profit and are now vacationing around the world? Why this passive attitude?
I hope that others will offer comments to the Press Release that you have posted.
Bye! |
