I think your absolutely correct. Had they followed through with uplisting years ago this problem would most likely never have happened. I suspect this problem will cost Laidlaw too much to overcome, and Mike and company will probably fold up shop.
IF they did something wrong, or invested wrong IT is still a valid point that Pink sheet stocks like LLEG could invest in Profitable ventures for their shareholders rather than becoming fully reporting... That DD is generally accepted by most knowledgable investors...