Geez, so much disclosed in this article!Considering a Court Case...

Geez, so much disclosed in this article!

Considering a Court Case in on-foot you would think that Cabral Douglas (as General Counsel) would keep his cards close to his chest to avoiding the risk of being in contempt of court by speaking to the media about all this.

Please note that Mr Douglas for the Mobile Dentist Practices that are currently in a legal dispute with Similes. It figures they would be hyper-critical.

These are same mobile dentists who were prosecuted by the EPA for radiation control act breaches, which essentially led to the dispute. They seem like they're just trying to get one back.

Most concerning is the statement:

"What eventually happened was just after six months of listing on the ASX and entering into the joint venture, Totally Smiles shut down the dentistry business on the 26 October and retrenched all of the employees - this was all contrary to the intention of the parties when they entered into the agreement," says Douglas.

He alleges this was an "unsavoury opportunistic attempt" for Smiles Inclusive to seize control of the vans, as under the terms of the joint venture it had control of company but not its assets, which were leased."

Really makes you wonder what they paid all those millions (Cabral says were paid $7 million) for if not the assets? Considering the business itself is rubbished due to the EPA prosecution. These are the due dilligence issues that plague this company.

Also Mr Douglas has disclosed to shareholders information that previously hadn't been disclosed

1. Totally smiles is the defendant in the current proceedings, so Court Proceedings iwas not at their initiation - which was suggested in past announcements.
2. Accusing total smiles of being in breach of radiation laws - possibly liability.
3. David Usasz was more than happy to completely throw Timoney under the bus (showing just how divided the Board is)
4. AADC's claim of lost profit of $20m is mroe than the market cap of the company.

Also a google search on Cabral Douglas hwas interesting - https://www.htsstlucia.org/oecs-bar-association-calls-action-cabral-douglas/