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Timeline
Oct 19th: I get a nasty email from an insider trying to convince me he lost money on KHI - I added up the sells he has 600k les now with net proceeds of $3 Million.
Oct 18th a full page article with three stories in the herald. Its getting better they are gonna nail someone for manipulating the price. Links not working copy and pste this into your URL box. all 3 stories here. http://www.herald.ns.ca/stories/2001/10/18/fBusiness.html#198.raw
Oct 17th : House accounts commitee meets and its coverevd on ATV News
Oct 3: More herald news on Margin account lawsuits http://www.herald.ns.ca/stories/2001/10/03/f122.raw.html
Sept 29th: The Herald follows up on the Sept 26th story on what are now lawsuits against the insiders for margin deficits in their accounts from borrowing against their KHI shares. Story here : The newsroom. Sorry the whole story is not online.
Sept 28th: WE start trading again - The stock trades most of the day in the 5 cent range and ends the day at 4.5 cents. Also on this date the TSE re-issues the NR stating that KHI was under review and had 120 days to comply.
Sept 26th Herald Story on Insiders owing National bank Money because they owned their KHI shares on Margin
Spet 25th - News on reorg http://www.newswire.ca/releases/September2001/25/c0927.html
Sept 25th Halifax herald coverage - sorry full article is not here just the first paragraph: This website is mentioned but the URL is incomplete: http://www.herald.ns.ca/stories/2001/09/25/fNovaScotia.html
Sept 25th: CBC news radio, Sydney, contacs me for an interview
Sept 24th. NDP party contacts me as they are helping with the media side as government side funnies are likely to be looked into. - That one is not for me to worry about
Sept 24th; I send out the first email just asking for other who may have complained to the TSE to contact the NDP guy as I must maintain my anaonymity for personal reasons
SEPT 18th UPDATE - I now have been contacted by former employees - They are unpaid for the last two weeks - They have received no vacation pay or severances. Hadda go Dan - what about the $2,000 per week you were paying yourself and 4 other top supposed execs?????????????? Yep they were each paid $110,000 per annum plus all those options - IN halifax that is a fantsitic Salary. know many VPs is much larger established companies that actual;ly make money dont make that, - How do you feel now shareholders and ex-employees??????
Sept 17-18 - we start to get 30-50 unique vistors a day here and some employees contact me - Stock still Halted which is odd but then again ITI never traded again and it was announced cease traded today by the TSE - last at $1.30 for them.
Sept 15-16th - I gather more data and build this website.
Sept 14th, 2001
- TSE issues a NR stating they are reveiewing the listing to see if KHI still meets the requirements .
- TSE notified with at least one formal complaint
- Nova Scotia Securities Commission Notified formally
Sept 13, 2001: KHI falls another 45% and is halted late in the day on news pending which of course turns out to be the company announcing it is. in effect. shutting its doors and ceasing operations
Aug 24, 2001 - The company announces revenue shocker and restates previous year to wipe out 95%+ of th reveue preiosuly reported which can only be attribitable to backing out discontinued operations cuh as the spun off subsidiary. Hugse losses posted. Potter announces regining from some bagman job in Govt.
Shares now trading in the 70 cent range and
Aug 23, 2001 - Comapny claims No materail Change even though the stock has lost over 80% of its value in less thaan a week citing ITI problems as the possible cause.
Aug 17, 2001 - IBK Capital engaged to raise $5 Million - This is the first sign of share price weakeneing
June 7th, 2001 - the news fully outlined on the subsidiary page selling what appears to be the revenue generating portion of the business. At the time no idication is given of the impact to revenues just a comment that net earnings would be unaffected.
May 16, 2001 Year end and Q1 2001 numbers announced. and pooling of interest adjustment to all previous numbers drops all reveunes by 20% and puts earnings in red. Thats one I must dust off the accounting text books to figure out. Year end numbers change from $44 Million in revenue to $39 Million. They absorb the losses I guess, Q1 numbers look Ok with $6.5 Million in revenue and net eaarnings of $130k.
May 9th, 2001 - NS Govt deal announced $2MM per year revenue
Dec 22, 2000 KHI buys KHLP making it sound like an arms length deal. Blois Colpitts was the key player. Even the name sounded too fishy but maybe it was arms length.
Nov 24th, 2000 - Two germans, Michael Barthe and Dr. Lutz R. Ristow, both of Hamburg, Germany buy 500,000 shares at $6.50 which have a warrant attached for the same number at the same price - (OUCH- I bet they are happy campers- I need their emails). DR Ristow was retired CEO of RSE Grundbesitz und Beteiligungs-AG, Hamburg
NOv 23, 2000 - revenues of $12.5 Million for the quarter and still positive net earnings. And many paragraphs on all the stuff going on.
Oct 24, 2000 - McKenzie college buys the Centre for distance education from KHI and KHI invest in Mckenzie - (Funny thing is Mckenzie college had 1.6 MM shares and 750k warrants per Insider reports but never sold them) ( McKenzie Collge directors are Ken Macleod and Donnie Snow - Both on the board of KHI and heavy trading insiders.)
August 25, 2000 - $15MM in reveune for the quarter - expanded and even printed on the subsidiary page Subsale. and net positive earnings again
May 25, 2000 - Revenue for Q1 of $7.5 Million and EBITDA of $454k and net earnings of $102
Mar 23, 2000 - Company announces 10 month yearly numbers $18Million in revenue and net earnings of $528k 4.7c EPS and assets of $18 Million
Jan 11, 2000 - Don Snow sells 1.2MM shares at $6.00
Nov 12, 1999 PP for 500,000 shares at $4.00 to insiders Share to 11.5MM at best guess
Dec 12, 1999 - KHI lists on the TSE after being on the ME
Dec 13, 1999 - Ashford Contract announced and stock starts to move past the $5 and $6 level, a level it holds until August 2001.