ANOTHER POST ON DEC 6 FROM YAMASAKI ON STOCKHOUSE The stock is still not trading on the TSX-V, but it looks like all the requirements have been met. The exchange now has to approve everything. It must be such a "black spot" for the Venture Exchange, as Alda was endorsed as one of their 2010 Venture 50 co. With the company teetering on receivership we can only hope that management improve things. Although their inaction doesn't exactly give me any confidence.
Having read the MD&A and financials, and it paints a pretty ugly picture. Out of money, racking up loans to directors and management, defaulting on the Olympic sponsorship loan obligations, and not enough cash on hand to produce or sell new products. Management sites that additional funding is required, but not in this market with the epic asinine mis-management Terry and Peter have made even before the whole Olympics debacle.
One other beef I have is that the involvement of Scott Young in Investor Relations. Many have tried contacting him but there is no reply, yet they were paying him compensation. Terry needs to re-organize the company, and stop the bleeding.
