Replies to post #31694 on Plandai Biotechnology Inc (PLPL)

[Aquahoya]

Would render useless a buyback if that happened. So, no. I'm sure you spoke to Rick.

[Kool Aid Man]

Tad can reverse split before the merger's final could he not? Until FINRA approves their proposed reverse merger Tad is presumably the sole authority. The question I have is.. should he be trusted?

1) Tad has had not one but two failed reverse mergers in the past 11 months. Then--

2) On January 4th he announced--

The Company completed its two-year independent audit of its financial statements and will use them as a basis for future disclosures and its continuing merger and acquisition efforts. https://www.otcmarkets.com/stock/PLPL/news/Plandai-Biotechnologies-Inc-Announces-Termination-of-Asset-Acquisition-Agreement-with-EV-Hotel-Updates-on-Status-of-Inde?id=385321

Yet in his Q3 (filed May 2nd) he reported "unaudited" financials. On page 11 he failed to respond when instructed to "Provide the following financial statements for the most recent fiscal year or quarter" and include an "Audit letter, if audited."

3) PLPL has a long and toxic history that resulted in SEC actions, fines and the permanent barring of the previous CEO (Roger Duffield) for whom Tad Mailander served as legal/ securities counsel since Duffield's reported "initial disclosure" in 2016-17. (see page 9 https://www.otcmarkets.com/otcapi/company/financial-report/169610/content ).

4) On March 15, 2023 Tad filed an SEC 10-K for the period ending 6/30/2016 which included the following "declaration" (Exhibit 20.1) explaining his unsuccessful attempt to recover any audit records by Duffield.
https://www.otcmarkets.com/filing/html?id=16494707&guid=yXD-kKDt7oePB3h#plandai_ex20-1_htm

Five days later he filed an SEC 10-Q for the period ending 9/30/2016 which also contained the same "declaration." Both include the following--

"To the best of my knowledge, it is unknown whether or not prior management during 2016 disclosed its evaluation of internal control over financial reporting to its auditors, and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions), including the following information"

So Did he not bother to read page 14 of Duffield's disclosure which says

For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended June 30, 2017 filed with OTC

Exactly how Tad came to control PLPL is still a mystery to me. IMO it's no mystery how he could claim to have secured a "two-year independent audit of its financial statements" since everything prior to that simply vanished.

Again, Tad was the lawyer for the previous, crooked, barred CEO and his family. Did he not review or keep copies of any "auditor's letters" for all those years? If PLPL was never audited then why the pretense of looking for something that apparently never existed?

SEC Charges Biotechnology Company, and CEO with IIIegal Sales of Stock and a Misleading Public Company Filing

Litigation Release No. 24232 / August 10, 2018

Securities and Exchange Commission v. Roger Duffield and Plandai Biotechnology, Inc., No. 18-CV-6984 (S.D.N.Y. filed August 2, 2018)

https://www.sec.gov/litigation/litreleases/2018/lr24232.htm