The issue is the 8-K was the valuation of the acquired properties...
The 8-K state:
"Unaudited financial statements included in our quarterly report on Form 10-Q for the quarterly period ended May 31, 2017, filed on July 24, 2017; and
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"Unaudited financial statements included in our quarterly report on Form 10-Q for the quarterly period ended August 31, 2017, filed on October 17, 2017.
"Our management following consultation with our financial advisors and independent registered public accounting firm determined that we incorrectly accounted for the fair booked value of Colony Energy, LLC, Black Dragon Energy, LLC, Rolling Rock Resources, LLC and City of Gold, LLC that we purchased."
We will find out for sure when these"unaudited 10Q's" are amended and refiled, but the focus is on rightly valuating the acquired properties. Are they worth the then current value of the shares issued? I think all of us have invested because we believe the properties are going to be worth a multiple of the then current value of the shares paid for them.
At some time the Book Value and the Enterprise Value will need to come together. The question for us is their combined value divided by the outstanding shares
In other words I think this too is just part of crossing the T's and fitting the I's. Why does all this have to be done? I think the reason is bigger than the TSX listing that were waiting for. It's what's going to happen after.
We shall see. This is My best guess.
Watch for opportunities with those you trust.
