So they are not going to give an update as promised, and they were not going to tell anyone unless they asked?
Makes you wonder if they have anything to update or if there is anyone to update. Maybe the update is not good. It might take a year or two for them to start a company.
The deal that was sold investors was a 'change in control' and Biocann reporting on their business. It seems like none of that is happening now. I would think that this is material.
A new subsidiary has been made to put the Biocann assets in which can then be secured by the Biocann preferreds in the same way the mining assets were. This would also be material.
Keep in mind that the company can not tell you material events that not publicly available. They can only explain that information to you.