Suncliff Inc (SCLF)

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Long-time Canadian shareholder locked out. Maybe you'd be interested in the latest update I've just received.

To: Canadian GreenLink International Inc. Shareholders
Previously Westsphere Asset Corporation/E-Debit Global Corporation
Listed for Trading on the OTC Markets (“WSHE”)

From: Doug Mac Donald, Director, and Chairman of the Board – Canadian Shareholder

September 19, 2023

Re: Update and current status of Greenlink International Inc. (WSHE)
OTC Markets Pink Sheets.

Preamble

I am preferencing my overview with my previously issued caution related to market activity occurring within the Greenlink International Inc. marketplace.
Note:
I am not a stock trader, never had a trading account and have never sold a share of this company since its inception in 1998 but I have been around the market and give the following from my own perspective. With that said - the following should be reviewed as information only and not relied for making financial decisions related to your shareholdings in Greenlink Internationals Inc. (WSHE).

To All: I share your frustration regarding our interests in the shares of the company and that is why I remain on the Board and act as Chairman of the Board to ensure that our collective Canadian Interests are maintained while a solution is accessed for us. (To be clear I do not receive any payment for my services on the board or am paid any management fees either personally or indirectly other than expenses attending Director and Shareholder meetings in person).

I have not forwarded any recent updates since the Shareholder meeting in June 12, 2023 as there are numerous things that are occurring (which I believe are positive in regards to the business side of WSHE) and I would suggest you take a look at the following links – These are the filings with the OTC and are pretty comprehensive ( https://www.otcmarkets.com/stock/WSHE/disclosure ) as well a the Presidents ongoing social network announcements https://twitter.com/GreenLink_Int

While I can advise business activity of the company is gaining traction, I can further advise the administrative end is bogged down as they are in the process of an application with FINRA for the name change to Suncliff, Inc. and trading symbol change to SCLF (as approved at the AGM). For a little insight, when we acquired the assets of Affordable Green Holdings LLC in 2018 and Jake George became President and CEO we were in the process of a name change to Greenlink International Inc. Our process took 4+ months and hundreds of pages of supporting documents. Zach Larch Greenlink’s Chief Operating Officer is experiencing the same situation. He is grinding through it but the administrative wheels in FINRA are finite and must be met and the review process is significant and it is an ongoing process.

I have retained Calgary Based Canadian Securities Legal Counsel to have our administrative Cease Trade Order removed. This requires 3 years of audited financials. As you can find attached to our OTC filings in the link above our ongoing financials for years 2019,20,21, and 22 have been filed. An SEC approved audit firm has been engaged (I have the name but at the time of writing this overview I do not recall) and the associated cost for the 3 year audit is significant and cash flow is a challenge. Once the audit is completed our Securities Lawyer will submit our request to the Alberta Securities Commission and BC Securities Commission and upon acceptance WSHE will again be a reporting issuer in Canada as well as the US. (Once again this will not be a quick and easy process – we believe we have a good case presentation but again there are no guarantees – but I am quite confident).

Notwithstanding the above (and if successful) this doesn't change the relationship with brokerage firms in Canada immediately but starts the process. As I have reported previously –“Bluntly and succinctly I can advise nothing has changed in this regard and as previously advised “there is no evidence for this situation to change in the near or even far term.” While this has placed not only the long-standing holders of the WSHE’s shares (in a majority of cases 20+ years) at a very distinct disadvantage the fact that 55%+ of the issued and outstanding shares of WSHE cannot access the marketplace has retarded the WSHE marketplace currently under the trading control of short trading market makers. As I previously advised the fact that we Canadian are holders of 55% ( +/-) of the shares leaves a very limited number of shares in the market available for trading resulting in the market makers represented 80% of the daily trading activity.

Since the shareholder meeting in June the Corporation’s market cap has been reduced by 50% +/-. Over the past 90 days there has been active trading only on 23 trading days which saw a total of 43 total trades. This represented less than 2 trades per active trading day and resulted in a total of 663,587 shares traded in the 90 day period with an average trading price of $0.008. Maximum total trading value was +/- $5,262.50 (all believed to be market-maker trades). As a result with less than 10% of WSHE issued stock lodged in brokerage trading accounts and available to the marketplace and with 20% of WSHE issued stock held in a consolidated block by the Principals of Affordable Green Holdings and our 55%+ the short traders have control.

As I previously advised that in discussion of Alberta Securities and Corporate legal counsels I have reviewed the option of a consolidation of the Canadian shareholders within a Canadian corporation and have had ongoing discussions with significant Canadian shareholders holding in excess of 400,000,000 shares to this regard. While the development of terms and conditions related to the potential of a major Canadian consolidation are ongoing, I await the delivery of the WSHE audited financials.

Since June 14, 2021 Greenlink (“WSHE”) has been current with all OTC Markets Filings and Disclosures and are being managed in accordance with the public market (the OTC Pink Sheets) requirements. You will find all filings at the following link: WSHE - GreenLink International Inc. | Disclosure | OTC Markets.

Prior to my attendance at the AGM I travelled the Farm Site and Production Centers located at the Farm in Coulee City, Washington (Big Ridge Farms – link: https://www.bigridgefarms.com/ ). During my attendance I was once again impressed with the cannabis farm operation and the domiciled 3rd party operated bakery was in production. The farm site production and Sweet Nirvana Bakery (https://www.sweetnirvanabakery.com/ ) facility was observed in full operation.

While I dramatically support the grow operations of the farm the continual growth of the accounts Receivable related to 3rd party Sweet Nirvana Bakery is a significant concern to me. I have voiced this concern at the shareholder meeting and in recent past discussions with Jake and Zach that as presented in our last financials “as of June 30, 2023 and December 31, 2022, our trade receivables, net of allowance for doubtful accounts amounted to $873,482 and $759,676, respectively. During the year ended December 31, 2021 the Company recorded an allowance for doubtful accounts of $928,737 and recorded bad debt expense of the same amount on its Statement of Operations.”

While discussions have been ongoing in regard to the collection of “ALL” receivables with the ownership of the bakery regards to ending additional receivable additions and terms and conditions of receivable recovery nothing concrete has been signed off at the time of this writing. The Board knows with the development and cost of the Suncliff line of products an additional receivable situation is not continually viable. I can advise all this situation is a priority over the next 2 quarters.

Since the AGM Greenlink’s Suncliff subsidiary offices and deployment facility in Seattle, Washington is in full production. It is best for you to go to Jake’s social media presentation (here are some links:
https://www.tiktok.com/@jakegeorge.official/video/7277856247179660586?is_copy_url=1&is_from_webapp=v1&lang=en
https://www.tiktok.com/@jakegeorge.official/video/7276229762853637422?is_copy_url=1&is_from_webapp=v1&lang=en
Suncliff Connect - YouTube

Our business operations and opportunities in the space located in the State of Washington is one of the best in the industry and the Suncliff branded products are currently expanding nationwide within the US. While there are hurdles to overcome administratively in getting the plans we laid out at the AGM implemented they are in development and I personally believe that Jakes marketing efforts are just at the front end and I am waiting with significant expectations the financial results of the next two quarters.

While us long serving Canadian Shareholders are currently in a locked out situation, we are continuing our review of all options related to gaining trading access to our long-held share positions and I will advise our ongoing progress.


Original signed by
Doug Mac Donald
Canadian Greenlink International Inc. shareholder and
Director and Chairman of the Board - Greenlink International Inc.