Howard, here's what has me "lathered up" and admittedly obsessed:
Bearing in mind that the company (both the Nevada corp and the Ontario entity) are named respondents in the OSC complaint, and that the company is liable for the actions of its officers and directors, if the OSC levies these penalties as listed in the hearing notice, the company is most likely toast:
(v) pursuant to paragraph 9 of subsection 127(1), that the Respondents or any of them, pay an administrative penalty of not more than $1 million for each failure to comply with Ontario securities law;
(vi) pursuant to paragraph 10 of subsection 127(1), that the Respondents or any of them disgorge to the Commission any amounts obtained as a result of their non-compliance with Ontario securities law;
(vii) pursuant to section 127.1, that the Respondents or any of them pay the costs of the investigation and/or the costs of or related to the hearing incurred by or on behalf of the Commission;
If this doesn't give you any cause for concern, I believe you should seriously reconsider the possibilities here as they relate to the fate of the company. Nothing personal - you know that.
Jannie