By September 14, 2020 the company was essentially broke. It devoted whatever resources it had left to conducting the Shareholder meeting seeking approval for either or both a RS and an AS increase. On the same day the PR was issued announcing an agreement they signed with Canit.
When the Company failed to seek the required shareholder approval, it became painfully obvious that it could not possibly move forward maintaining the status quo. Afterwards Kirkland chose to play hardball, only to realize afterwards that sometimes you win and sometimes you lose. He lost big time, end of story!
Contracts signed, regardless as to whether or not its information is reported with an 8-K or not, is nevertheless binding.
If the outcome of the vote had been different, if Kirkland had chosen not to play hardball, and if the Company had extra cash laying around, I'm quite certain Ziv Turner would have filed an 8-K. Furthermore, David Kugelman was in control for the better part of 2021, why did he not report the agreement by filing an 8-K?
This action should have been reported with an 8-K as a material event.
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