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Misleading News releases
As you can see the stock had being holding a $5 price but suddenly started a slide in late August. On thursday, Aug 16th the stock closed at $5.10 on its regular light volume. This light volume often supported by National Bank buyers. National Bank will be shown to be the house used by all of the insiders of the company. By Wednesday of the next week the stock could be bought for $0.65 and was sold down on very light volume. ON August 23rd the company put out this news release KHI comments on recent Price decrease . In the press release the company choose to in effect say nothing had changed and that the failure of ITI Education was likely scaring investors.
The stock then continued to trade and then the financials were released on Friday, August 24th Knowledge House Inc. announces second quarter and six month results as it continues its progress as a pure e-learning company and closed that day at $.69. The next week and for the following two weeks the stock traded largely in the $0.30 to $0.45 range. On Thursday, Sept 13th, the stock fell almost another 50% in one day on the heaviest volume day in 3 months and likely ever except for a few days noted later where insiders were selling. The stock was halted and the company released their cease operations news after close. Funny enough they did not release this information to all the wire services as it had for all their News releases for years.
The company does allude to the fact that they need financing but one must question the direction of the Aug 23rd "No Material Change" (NMC) News release indicating all was relatively well. The August 24th NR was a shocker to me when I saw $143,000 in revenues but that is discussed on the Subsiduary sale page. http://khiexpose.freeservers.com/subsale.htm.
So above are the Aug 23 and 24th NRs . Ok I read them and I certainly understood they needed a few million$$ but they had little debt and heavyweights on the board and the NRs were not deesperate sounding but maybe that is just me. I know I was fooled but whether the Nrs are misleading is for the courst to decide and not me.
Recent Nrs are the following and I am sorry I cannot find a news service that KHI sent their bad NR to. Only here at the TSE .http://investdb.theglobeandmail.com/invest/investSQL/gxtse.company_news?pi_symbol=KHI&pi_exchange=T or here on the company website: Knowledge House Inc: News : KHI News. And the TSE is reviewing the listing and at the time of this web upload the stock was still halted.
Whether or not it trades again I think the TSE should at least investigate the entiore set of suspicious circumstances