LAWSUIT: Dr. Alex Capano v. Ecofibre, Ecofibre Board, page-16

Your timing, KRNOTI, could not be more appropriate. Today, I received a copy of a motion Capano filed last Friday, which provides a bit more clarity on what's going on. Still digesting it, but wanted to share ASAP. The headline: not good. Here's a link where you should be able to view it in full.

https://drive.google.com/file/d/1-1xIeYQwv9oShs0IU5K3jniEyqRWuD76/view?usp=drive_link

I'll try to copy/paste the text for convenience in another post if I'm able. The summary seems to be as follows:

• Capano moved for a "Status Quo Order," which is intended to preserve - you guessed it - the status quo. Here, that request is for a court order that would prevent Ecofibre from selling its own (apparently fraudulently) claimed interest in EOF Bio (the spinoff intended to commercialize Capano's U.S. cancer patents) or the assets of EOF Bio until until things are resolved.
• The reasons asserted are, basically, that Ecofibre is trying to raise cash and, for that reason, did some very bad (illegal?) things in support of that effort.
• These very bad things include claiming a "fraudulently inflated stake" in EOF Bio so that it could sell that stake to raise money for Ecofibre (indeed, Ecofibre has represented to the public that it owns something like $20M or $30M in EOF Bio...)
• Hiding at least $500,000 of Ecofibre's expenses on EOF Bio's books with no plan to pay EOF for them (i.e., "cooking the books" to make Ecofibre look more profitable/efficient to the investing public)
• Placing Capano on administrative leave after she "blew the whistle" on sexual harassment and financial misdeeds committed by an unnamed (but...obvious - Wang) "former senior Ecofibre officer" and then firing her to prevent her from making more noise.

I am still digesting, but if any of this is true...why is this Board/management team still in place? No wonder Bayliss resigned. He is obviously implicated and is trying to save face. When will the remaining Three Stooges follow-suit? How does ASX allow this sort of behavior to persist?

In summary, Ecofibre--a publicly traded company--and its Board have hid expenses from the public, fraudulently inflated assets claimed in public statements, and are silencing and sacking critical leaders/innovators who disagree. Big investors - have you no limits? No integrity? How long is this ride and when will you all let us off?