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Monday, September 14, 2020 12:26:53 PM
The Goods were shipped FOB "Freight On Board" from the Canadian Plant meaning to the Phama's CFO and which they stated in the PR announcing the accident, that the Goods were no Longer the Pharma companies but the Purchasers
UNFORTUNATELY in Canada FOB doesn't mean this...The freight was still the Pharma companies. It was their Purchaser's insurer that had to break that news to the Company... that the goods weren't the purchasers and was still the pharma companies..
1 day after the Financial Releases the company issued a NEW Press release announcing 125 Million in lost goods.
The SEC took the entire company to task for the initial release saying they shouldn't have disclosed it at all until the two days later at the Company's Financial conference. Was a real freaking mess... The Pictures of the Tractor and trailer completely flipped on a US interstate 29 I think it was however were AWESOME
Lesson Learned: When shipping +$1000 of goods Know your International Shipping methods boys and gals!!!
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