CEN Biotech owns the property and Bill has a lien on the property so if he does not collect on what is owed him, he gets it. The property at 20 North Rear Road is owned by Bills cousin, Jim Shaaban (not a spelling mistake, they use two different spellings) and he received his building permit for an agricultural storage facility (not a medical marijuana facility) to be constructed as a pole barn and a permit for fencing. The total cost given on the building permits was $800K for the building, and $100K for the fencing. Oh, timing is everything. The permits were granted for an Agricultural Pole Barn prior to the town being informed. The town did not approve a medical mj facility but a pole barn. Make sure you have that correctly. The town has no contract with CEN, no approved medical mj facility with CEN but a pole barn awaiting a license that never came. Jim Shaaban tried to sell the building according to the Globe and Mail story which was not refuted by Jim or Bill, but only by shareholders who then became experts in tenant law by stating the new owners would have to honour the previous agreement. Actually that encumberance could have been removed as part of the sale agreement but why would Bill pay a perfect stranger rent when he could give it to his cousin?
Bill claimed in May of 2014 the interior was complete, finished, pharma grade (he turned down an offer by the Globe and Mail to show the interior of the building citing rules and regulations when in fact numerous other companies had done exactly that with no repercussions) but the town building supervisor was quoted by a council member in September of 2014 both buildings were non-operational, basically empty shells which of course, flies directly in the face of Bill's claim. Bill will now be required to prove to the court his building was complete and was ready to produce when given a license by Health Canada - if he cannot prove the building was completed as he claimed it was, then there might be an issue. There is the possibility that Health Canada then, once they win this case, and they will, will ask for legal expenses to be paid to them by CEN Biotech. But let's not get ahead of ourselves. Take the one property CEN owns, paid $1.2 million for it. Divide that by how billion shares and that is how much each shareholder would receive as an asset EXCEPT only preferred shares are entitled to asset claims for the winding up of a corporation after secured creditors are paid (Bill for example) so he would likely receive the proceeds from the sale of that former horse surgery not investors. After all the secured creditors are paid, then preferred shareholders and after that, if anything left, common shareholders. Common shareholders do get a vote. When was the last annual shareholders meeting held? You will get to have a CEN Biotech shareholders meeting once you get your fee shares however, unless Bill applies to the court to delay the shareholders meeting. He was the only director of record for CEN Biotech I or II. There are two different companies, each with Bill as the only director.
It is made of paper. Except Bills paper is money, yours is worthless share certificates.
