Author Topic: PDH - Premier Diversified Holdings Inc.  (Read 381156 times)

shalab

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #780 on: September 01, 2018, 10:14:45 AM »
Stock price is 2.5 cents CAD per google.
https://www.google.com/search?source=hp&ei=EseKW6SlKYqz0PEP46WA2Aw&q=pdh+stock+price

Lot of dealings where the directors are the beneficiary

Key management personnel include persons having the authority and responsibility for planning, directing, and
controlling the activities of the Company as a whole. The Company has determined its key management personnel
to be executive and non-executive officers and directors of the Company.
The remuneration, including share-based payments, of key management personnel during the nine months ended
June 30, 2018 and 2017 were as follows:
1) Consulting fees of $100,800 (June 30, 2017 $95,013) were paid to an accounting firm whose principal is the CFO and a director of
the Company.
2) Consulting fees of $nil (June 30, 2017 $94,238) were paid to a director of the Company to manage the Chinese operations. The
amount is included in loss from discontinued operations.
3) Management fees of $39,675 and professional fees of $35,362 was paid to private company, whose principle is the Director and NonExecutive
Chair of the Company, during the nine months ended June 30, 2018 and 2017, respectively.
4) Professional fees of $138,091 (June 30, 2017 $nil) were incurred to a law firm whose principal is a director of the Company.
5) Professional fees of $nil (June 30, 2017 $34,073) were incurred to a law firm whose principal is a former director of the Company.
Accounts payable and accrued liabilities includes $36,631 (September 30, 2017 $6,865) due to companies
controlled by officer and directors of the Company

Cash flows from operating activities is still a signifiant bleeding. Still need investing and financing to cover that. No more long term debt.
« Last Edit: September 01, 2018, 11:44:50 AM by shalab »


benchmark

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #781 on: September 01, 2018, 07:37:16 PM »
Stock price is 2.5 cents CAD per google.
https://www.google.com/search?source=hp&ei=EseKW6SlKYqz0PEP46WA2Aw&q=pdh+stock+price

Lot of dealings where the directors are the beneficiary

Key management personnel include persons having the authority and responsibility for planning, directing, and
controlling the activities of the Company as a whole. The Company has determined its key management personnel
to be executive and non-executive officers and directors of the Company.
The remuneration, including share-based payments, of key management personnel during the nine months ended
June 30, 2018 and 2017 were as follows:
1) Consulting fees of $100,800 (June 30, 2017 $95,013) were paid to an accounting firm whose principal is the CFO and a director of
the Company.
2) Consulting fees of $nil (June 30, 2017 $94,238) were paid to a director of the Company to manage the Chinese operations. The
amount is included in loss from discontinued operations.
3) Management fees of $39,675 and professional fees of $35,362 was paid to private company, whose principle is the Director and NonExecutive
Chair of the Company, during the nine months ended June 30, 2018 and 2017, respectively.
4) Professional fees of $138,091 (June 30, 2017 $nil) were incurred to a law firm whose principal is a director of the Company.
5) Professional fees of $nil (June 30, 2017 $34,073) were incurred to a law firm whose principal is a former director of the Company.
Accounts payable and accrued liabilities includes $36,631 (September 30, 2017 $6,865) due to companies
controlled by officer and directors of the Company

Cash flows from operating activities is still a signifiant bleeding. Still need investing and financing to cover that. No more long term debt.

Yes, unless they are paid at a discounted price, I'm concerned about these dealings.

Parsad

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #782 on: September 02, 2018, 01:39:11 AM »
Just to clarify this discussion and any assumptions about the related party transactions:

June 30, 2018 and 2017 were as follows:
1) Consulting fees of $100,800 (June 30, 2017 $95,013) were paid to an accounting firm whose principal is the CFO and a director of
the Company.
 

This is Alnesh...cheaper than a full-time CFO.  Also very good at his job, if you've seen the improvement in disclosures and clarity of our financials over the last 2 years.  He's also owns 43% of the company, as I do, and sits on the board.

2) Consulting fees of $nil (June 30, 2017 $94,238) were paid to a director of the Company to manage the Chinese operations. The
amount is included in loss from discontinued operations.


Former manager for China...nothing paid in 2018 and nothing being paid going forward.

3) Management fees of $39,675 and professional fees of $35,362 was paid to private company, whose principle is the Director and NonExecutive
Chair of the Company, during the nine months ended June 30, 2018 and 2017, respectively.


This is for Simon's consulting services.  He's the former head of the BC Cancer Agency and Princess Margaret Hospital in Toronto.  He's working on growing the clinic business in a very significant way.  He's already worked for free for 3 years...we could not ask him to continue doing so without some form of compensation.  He's working for about a fifth of what he would get in the public sector and a tenth of what he would get in the private sector.

4) Professional fees of $138,091 (June 30, 2017 $nil) were incurred to a law firm whose principal is a director of the Company.

This is for our Marta Davidson, our legal counsel.  Marta has her hands in every aspect of PDH...including all legal work, businesses, contracts, office administration and sits on the board as director and corporate secretary.  She also works for less than market rates for us like Simon.

5) Professional fees of $nil (June 30, 2017 $34,073) were incurred to a law firm whose principal is a former director of the Company.

These were legal fees paid to Marta's former partner and law firm.  Like our China manager, nothing has been paid in 2018 and nothing will be paid going forward.

Cheers!

« Last Edit: September 02, 2018, 01:45:21 AM by Parsad »
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Gregmal

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #783 on: September 02, 2018, 02:09:02 AM »
Sanjeev, I applaud your transparency and effort to go above and beyond. While I believe PDH to be terminally ill, I think you have done a ton to be truthful and transparent, and if you were ever to start with a completely clean slate, I'd be willing to throw you some money. I just think this one is too far gone. I'm not being facetious when I say this, but I feel like I have better odds going to AC and putting it all on red than investing in PDH.

Parsad

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #784 on: September 02, 2018, 02:17:21 AM »
Sanjeev, I applaud your transparency and effort to go above and beyond. While I believe PDH to be terminally ill, I think you have done a ton to be truthful and transparent, and if you were ever to start with a completely clean slate, I'd be willing to throw you some money. I just think this one is too far gone. I'm not being facetious when I say this, but I feel like I have better odds going to AC and putting it all on red than investing in PDH.

Hi Greg,

Thanks very much for your comments!  You may very well be right, but I'm going to do everything I can to prove you wrong. 

We would welcome you as a shareholder, regardless of whatever opinion you may have of us.    :D

Cheers!
No man is a failure who has friends!

shalab

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #785 on: September 02, 2018, 10:02:34 AM »
+1 on Sanjeev's honesty. This is one of the reasons why they have been able to raise funds and survive thus far. I wish PDH success especially given Sanjeev's goodness but I find the path forward very difficult.

Irrespective of the outcome, this is a great case study for investors. It is inexplicable that they went into venture capital investments especially in insurance. Venture capital business is hard in the best of times in the best of places let alone from Canada. Then there is the need to pay different people in the board for tagging along and very soon the economics of a nano cap become unviable. The collateral damage in this case may have been the fund (http://www.cornermarketcapital.com/annual-reports.html) - which had 40% of its assets in PDH (accounting for 25% of PDH) at the end of 2016. Apparently the fund added another 14.6 million shares at 1.52 million CAD at roughly 10.25 cents CAD in 2017 to this.

I hope it doesn't turn out to be another example of Buffett quote "When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact."

Sanjeev, I applaud your transparency and effort to go above and beyond. While I believe PDH to be terminally ill, I think you have done a ton to be truthful and transparent, and if you were ever to start with a completely clean slate, I'd be willing to throw you some money. I just think this one is too far gone. I'm not being facetious when I say this, but I feel like I have better odds going to AC and putting it all on red than investing in PDH.
« Last Edit: September 02, 2018, 10:18:15 AM by shalab »

shalab

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #786 on: September 02, 2018, 03:21:44 PM »
Just to clarify this discussion and any assumptions about the related party transactions:
...

This is Alnesh...cheaper than a full-time CFO.  Also very good at his job, if you've seen the improvement in disclosures and clarity of our financials over the last 2 years.  He's also owns 43% of the company, as I do, and sits on the board.
...

Cheers!

Looks like the MPIC fund's stake in the company increased by another 10 million shares after 2017.  ( 163 * .43 = 70 million shares, the total number of shares held by the fund at the end of 2017 was ~60 million) At a price of 3 cents CAD per share, it would be around 300K CAD.

LightWhale

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #787 on: September 02, 2018, 10:52:11 PM »
Sanjeev, I applaud your transparency and effort to go above and beyond.

+1

benchmark

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #788 on: September 06, 2018, 09:25:18 PM »
It is inexplicable that they went into venture capital investments especially in insurance. Venture capital business is hard in the best of times in the best of places let alone from Canada. Then there is the need to pay different people in the board for tagging along and very soon the economics of a nano cap become unviable. The collateral damage in this case may have been the fund (http://www.cornermarketcapital.com/annual-reports.html) - which had 40% of its assets in PDH (accounting for 25% of PDH) at the end of 2016. Apparently the fund added another 14.6 million shares at 1.52 million CAD at roughly 10.25 cents CAD in 2017 to this.

This is right on, I really like to understand the rationale on the VC style of investing, given that the company still needs outside funding. It's not just startup in insurance, but also telemedicine, and others. Maybe too eager to hit a home run?

writser

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Re: PDH - Premier Diversified Holdings Inc.
« Reply #789 on: September 21, 2018, 05:56:04 AM »
https://globenewswire.com/news-release/2018/09/20/1574081/0/en/Premier-Diversified-Holdings-to-Acquire-Shares-of-ZED-Therapeutics-Inc.html

Quote
Premier Diversified Holdings Inc. ("Premier" or the "Company") (TSXV: PDH) announces that, subject to approval of the TSX Venture Exchange (the "TSXV"), it will acquire 5,144,000 Common shares of ZED Therapeutics Inc. ("ZED") for total consideration of $25,720.

ZED is a privately held company incorporated under the laws of Alberta. ZED is a start-up company which intends to participate in the medicinal hemp industry. Medicinal hemp is distinct from medicinal cannabis. Medicinal hemp is CBD oil and plant products with less than 0.3% THC.  The Company is acquiring common shares of ZED at a price of $0.005 per common share. All other subscribers in ZED's financing are acquiring common shares at the same price as the Company. Following closing of ZED's financing, Premier anticipates that it will hold approximately 36.7% of the issued and outstanding shares of ZED. ZED may complete future equity financings which would result in dilution of Premier's interest in ZED.
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