As some of you know I was a shareholder in this company at various times and was lucky enough to read through management and technicals to make money.
It is not my intention to rub salt into anyone's wounds, especially if you lost a lot of money. However, I have been reviewing Zoono's disclosures as part of broader justice intiative I am looking at and I believe there are fair grounds to probe the company and affiliates through the courts.
Specifically: 1. Misleading disclosure around April 2020 as to significant jump in "sales" (when those were really just non-committed orders) causing the market to significantly revalue the company and share price to double. 2. Whether there was any implied understanding between PH and Regal and other affiliates of the true nature of the above statements around or after PH sold his shares to them around February 2020. 3. Whether the company and PH informed those affiliates after the announcement in April as to the true nature of announcements (we know that PH informs people via email instead of properly updating the market).
I have not suffered any loss so there are no damages here I could pursue. Neither I am authorised to give any legal advice. However, if I was sitting on a loss any greater than $20k I would file a law suit. I would have considered following causes of action: "negligent misrepresentation" causing financial loss or in the alternative, "conspiracy by two or more persons to defraud" causing financial loss.
And before anyone accuses me of downramping, I am actually here to help due to my sharp sensitivity to injustice.
And I remain open to be proven wrong by the management through their full year report in the coming weeks.
ZNO Price at posting:
63.5¢ Sentiment: None Disclosure: Not Held
