The more I think about the disclaimer about internal controls, the more I'm confused. Leading up to the so-called annual meeting last year, the company was able to have the accounting firm certify the 10-k. There were obviously the same level of controls in place, so what changed? Either the accounting firm signified that it is uncomfortable certifying them, thereby forcing HDC to include such a disclaimer or, perhaps, the Vennwest lawsuit has raised red flags? Or, perhaps they made a conscious decision to conduct themselves in this manner because they didn't want to spend money on the accounting firm, and this was a more creative way to go about it? This last issue certainly could make sense, given that the company has also made a decision not to renew lease space in PA.
Once again, regardless of the rationale, they've produced yet another example of creating more questions than answers for shareholders, and will remain quiet rather than giving us fair information.
It doesn't appear to me that in early 2020, when HDC submitted the revised Articles with a date retro to 2018, and in which it included the Series D shares with 10-1 voting rights, that the team thought it would be appropriate to conduct such an internal evaluation. The division of responsibilities seemed to have worked quite well for them at that time.
News 
Market Data 
Discover 
