Nate's Food Company (NHMD)

[stervc]

RDY2ROCK, why the overreaction with yesterday's NHMD 8-K...

I think the selling yesterday with NHMD was a huge overreaction of a misunderstanding. Technically speaking, there is a chance that they were not referring to the audit...

From yesterday's 8-K:
The Company was fully prepared and ready to complete the acquisition of JP Energy Group. Regrettably as of November 6, 2023, Section 3.01 of the acquisition agreement has not yet been satisfied, which prevented the closing from taking place as scheduled.
https://www.otcmarkets.com/filing/html?id=17032717&guid=n65-kFgc13CzyVh

Technically speaking, there is no "Section 3.01" within the contract. There is a "3.1" that refers to the audit and there is a "1.01" that is right above "3.02" within the 8-K of which they could have been referring to which refers to the two things that were required to have "satisfied" to complete the merger. With those two things, #1 is done and #2 refers to the financing which could be what they are referring to since they said that there were only two things needing to be "satisfied" to close the deal and the audit wasn't one of them or they would have listed it as one. They didn't which can be seen below from the earlier 8-K:
https://www.otcmarkets.com/filing/html?id=16941153&guid=1jg-kpw7lRDWJth#nhmd_ex1_htm

According to the contract, they have 120 days after the merger closes to complete the audit from how I understood things. That doesn't mean that the deal has been delayed for 120 days as I see that is how such was interpreted. This is only my opinion for how I see things. I'm sure we will see some clarity on the matter from the company if I had to guess as they have been doing a great job with communicating to keep us informed.

v/r
Sterling