Thing is - In September 2019 Volcan were listed as the second largest holder. At that time Volcan owned, at 189,975,000 CGB shares.
1. Therefore they control a large voting block.
2. For the purposes of the accounts - Volcan is considered a related entity / party because of two Directors of CGB are also Directors of CGB.
3. Volcan also owed CGB $1,200,000.00 (consideration for ML 1492). This loan was not secured. (p. 40 Annual Report).
4. Volcan also owe $79,258.00 to CGB, This is also an unsecured loan.
Q. Why is the BOD of CGB continuing to make unsecured loans to related entities that have failed to repay the $1,200,000 to CGB? (p. 40 Annual Report).
Q Why is Volcan not able to sell down part of their holding in CGB and repay its debts to CGB shareholders?
Simple stuff that to date remains unanswered by any poster on HC.
Over to you!
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