If there's nothing going on and this is all fluff that PASO is putting out, misleading investors is a major crime. So far, CLX Health and PASO have not met any estimated deadline that they've set. That causes terrible trust issues when the investors are supposed to be confident in the company.
Now, Weitzberg could prove me wrong and I'd be just fine with that. However, it should not take prodding a CEO to get information like that. When he isn't giving info willfully and has no explanation for the delay, that's a huge issue. Things obviously aren't going as planned.
As I understand it, the 8K filing does not necessarily require them to tell us if the deal fell through after LOI. Apparently LOI is non-binding. So if the deal well through, we're waiting on the wind and Bruce isn't saying anything about it. In theory, stockholders would still have a class-action case in that he failed to inform us that the deal was invalid so that we could sell before the price tanked. Hopefully not, but so far this is a dead horse.
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