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Re: Greenvestments post# 112432

Saturday, 02/27/2021 8:42:52 AM

Saturday, February 27, 2021 8:42:52 AM

Post# of 143386
The history through press releases, Monitor Reports and court documents are not hard to follow here.

Eno was hired as part of a promising leadership team to try to give the market confidence in a turnaround of the company's prospects so that they could raise money and enact a restructure. He was well incentivized if he could pull it off, which is standard practice.

Then, you saw the Fourth Monitor report - no one made an offer to recapitalize the company in a way that would allow it to go forward as a going concern. The attached equity became worthless, as did, of course, the stock incentives facing Eno and team.

They resigned. Its not that they did a terrible job, but they came on board a sinking ship and were not able to turn it around or earn it a second chance.

Then The Monitor, with new powers to liquidate within the CCAA granted, continued with the liquidation. The company was liquidated, which is where it sits today.

Obviously, ironclad links can be provided on each of the steps above. I hope I don't have to provide them (again).

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