For those of us who still have some reservations about one or two of the substantial shareholders, I think this is a very interesting paragraph in the Full Year Report.
"The expiration of the Company’s spectrum license in December 2022 represents an administrative risk for Kleos. Due to new laws, now enhanced background checks are required for all executives, board members, and shareholders with a holding ofmore than 10%. The translation of the criminal record check required by the Luxemburgish law (casier judiciaire - bulletin no.3) did not match the criminal record checks of other countries. Due to the complexity and difference in approach in differentcountries for such checks the LSA has granted Kleos Space with a 2-month extension (expiring at the end of February 2023).The Company is in regular contact with government officials, regulators, and Kleos’ lawyers to work through this issue andare all working together in good faith. The Company has been granted a second extension until 17 March 2023 and isconfident this issue will be resolved timely."
Some may recall that at least one SH had issues with the US lawmakers in the past. An issue that might be relevant given the major push to achieve USA trust going forward with the executive changes. Another one is not without their own corporate invetsigation history. I have no idea (obviously) where this is heading but the chickens may be coming back to roost.
As some background for the newbies, these sites might help. Click on the yellow bars of the FINRA site for details. It may all be ancient history, but the Croplogic fiasco might suggest otherwise.
https://www.copyright link/companies/agriculture/micro-cap-croplogic-named-and-shamed-by-asx-20190918-p52sl1
https://brokercheck.finra.org/individual/summary/5941173
A less compelling situation lies here with the other substantial SH.
https://www.copyright link/policy/tax-and-super/jan-cameron-ato-walk-back-from-public-court-fight-over-bellamy-s-sale-20220714-p5b1jb#:~:text=In%20early%202020%2C%20ASIC%20went,to%20the%20two%20criminal%20charges.
Background Stories, page-471
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