I can't believe they can get away with doing this.'North...

I can't believe they can get away with doing this.
'North American Business
The strategic review has also determined that in the current environment it is appropriate for
the Company to re-structure the US business by divesting its wholly owned subsidiary, CIO
Technology Inc, to the Company’s previous Managing Director, Mr. Yakov Temov whilst
retaining an exclusive perpetual global license to utilise the existing Intellectual Property (IP)
outside of North America.
The Board has determined that with the current cost structure of that business together with
the inability of that business to return to its pre COVID sales trajectory, it is in the best
interests of shareholders to re-structure the US business at this time. Mr Yakov has agreed
to a transaction that sees him acquire the business with its existing liabilities (including a
$400,000 loan repayable to the Company)'
What a mob.