Blue Diamond Ventures Inc (BLDV)

[Kool Aid Man]

BLDV is an American stock incorporated in Chicago.

Cann10-NA is a recently created, privately owned subsidiary of a foreign (Israeli) company called Shizm Group.

On 12/31/17 CEO Josh Alper traded 700 million shares of BLDV for a 25% ownership of Cann10-NA (which he disclosed now owns 13% of BLDV).

On April 20, 2018 Alper issued a PR wherein he revealed that the stake in Cann10-NA also included "a path to merge" with BLDV. He warned that such a merger it would be challenging but that they felt "would be worth the effort."

Also in April another IHub member posted the contents of an email wherein Alper reportedly claimed BLDV now owns 49% of Cann10-NA. However, Alper has yet to make an official disclosure of this to shareholders --nor has he explained how this additional 24% was paid for. If it was done with stock whose price had fallen since 12/31/17, then how much of BLDV does Cann10-NA now own? IMO it could be north of 30%.

Here's a PR from September 2016 --nearly 2 years ago-- wherein Shizm announces the creation of their Cann10 "MMJ incubator."
http://www.globes.co.il/en/article-shizim-launches-medical-cannabis-incubator-cann10-1001150365

Questions:

Does anyone know if the Israeli Cann10 is profitable? If not then why should Cann10-NA be any different?

How can a publicly traded American company merge with a privately owned foreign company that controls 51% of the stock and then be traded on the Canadian Stock Exchange?