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Message: Question Re Q3 financials restating?

Please find my reply in bold and underline

I am somewhat confused by the conflict between your responses on Nov 30 2022 and your Jan 20th news release. Your response quotes your Q3 MDA. As you have now disclosed that the IP sale did not occur are you going to restate the financials and MDA or make a material change report?

 

No, we have no reason to restate the financials or the MDA.

 

But I must say that you have made some interesting editorial choices with your quote from the release to support your argument:

“Given the current lack of agreement between the parties on the transactions to be finalized, this advance on acquisition and future work…”

The fact is that the last sentence of the release, which you seem to have omitted, confirms that negotiations are still underway as it pertains to the IP purchase.

"... The balance must, following the negotiations in progress between the parties, be used for the same purposes either as payment for the acquisition of intellectual property or work, as the case may be.”

 

https://money.tmx.com/fr/quote/HPQ:APH/news/5743262924981006/Mise_xE0_jour_corporative

 

It appears that the TSX does not agree with HPQs legal counsel, who I believe is either a director or may be related to a member of the board of directors. You may wish to reconsider the firms choice in legal counsel based on your second statement on Nov 30th and possible conflict.

 

It’s evident that you are trying to link two unrelated situations.

 

This release has nothing to do with how the IP was accounted for or written in the MDA but was solely related to the fact that we did not announce the advance before filling the MDA and Financials. 

 

Can you also provide a detailed statement confirming the TOTAL amounts paid for the QRR project as I understand the contract was for $8.26 million for a 200 MT unit including the related IP

 

The information is available as of September 30, 2022, on SEDAR.

Regards

Bernard Tourillon
CEO

 

 

 

 

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