Equity.Guru podcast: Eureka 93 (ERKA.C) provides answers on dissolved partnership and 15:1 share rollback

Eureka 93 (ERKA.C) is trying to get back on track in the wake of a dissolved partnership with Canopy Growth (WEED.T), a 15:1 share rollback and an eight-month trading halt.

Shares lost 90% of their value when folks who had been forced to sit on the stock during the halt dumped their shares on the open market.

Equity.Guru’s own Chris Parry had written about the company and its troubles since the days of Livewell and at Eureka’s request, sat down with company CEO, David Rendimonti, to get a closer look at Eureka 93 as well as an explanation for the company’s activities during the halt. Prickly questions were asked and answered.

Listen in!

Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

Leave a Reply

52 Comments on "Equity.Guru podcast: Eureka 93 (ERKA.C) provides answers on dissolved partnership and 15:1 share rollback"

Notify of
avatar
Sort by:   newest | oldest | most voted
Andrew Sephin
Guest
Arrogant, self loathing and focused on avoiding the truth. He has not accepted any of the failures, most of which were caused simply due to incompetence of the company, not external market factors as one would be made to believe. There have been several successful Marijuana companies that started off at the same time as Lvwl/Percy capital and have gone on to create a lot of value for their investors. This company has for the most part, tried to do backdoor “arms length” deals with their friends and that is why they are where they are. Not because they executed… Read more »
bardi
Guest

He says he’s all about Integrity? Really? Ask him what he and his friend Leaker were doing when they formed Relief Effects Inc.

Andrew
Guest

This guy knows nothing about integrity. He knows how to spin stories. That is one thing he knows. He addressed none of the real questions. Spin spin spin. Laser focused on making his friends rich at the expense of the investors. Scammers Kent Hogan and Owen Kenney got their way only because of incompetent people like Rendimonti. Now watch as he brings his other friends as saviours for another takeover at this price.

Jas
Guest

Chris, are you able to clarify what Rendimonti is saying about a potential for a buyout at this price? Is he saying that is fantastic?

bardi
Guest

Chris, you generally do a terrific job but you went relatively soft on the architect of this debacle…still lots of unanswered questions….

Jake Johnson
Guest

Chris,
The conspiracy here with Sean Peter and Dave goes much deeper. This will involve a class action and jail time for these guys. LVWL was a sham from the get go with a millions of stupid ideas met a incompetent leader that created an realistic vision and no game plan for a future.

Chris : Ask about the
$100m in payouts to the former directors? (Sean and Peter)

Ask why Canopy JV really fell through? Getting an ACMPR is useless now, what’s the plan for the farm that was the selling point to investors for LVWL?

Bon
Guest

So these guys got paid that much sorry who is Peter and Sean my bad been gullible

Jake Johnson
Guest
Peter and Sean were co founders. They created a bulshit company (on paper) and attained lots of capital with a million scattered ideas and convincing powerpoint presentation and a company that had zero value and no vision. Nothing tangible, the canopy jv fell apart and then sold out to the E93 fiasco……yes look at the e93 financial statements…..they were paid out over 97million and walked away with alot more in shares and bonus. They put dave in charge who was a soap salesman…..who became the president because he was in on the original livewell evaluation scam. So many lost their… Read more »
Jason
Guest

Tks I guess how can we get on the class action suit

bambam
Guest

Rendimonti and Leaker formed a company (Relief Effects) while they were working at another cannabis company ; they then made Sean and Peter (and Bill) shareholders of Relief. And then these crooks licensed the technology of mysterious origin (connect the dots) to Livewell/Eureka……karma is a great thing – too bad about the collateral damage these scoundrels caused on the unsuspecting shareholders who bought into their bullshit.

Fred
Guest
Jake, can you please provide more details about the class action? I am very much interested in being part of it, but I have not seen anything firm from any firm yet. If you do know, can you please provide that info? I really want to see these crooks go to jail and I hope we can atleast recover a tiny fraction of what we put in. If there is nothing firm yet, we should start engaging some reputable firm, besides that of the master schemer Tim McCunn from Ottawa. Any suggestions? Loading...
Jake Johnson
Guest

Tim is the biggest scammer in the game. How he keeps his licence is beyond me. When I have more details I get a link to everyone I know of

Fred
Guest

Please do provide. We need to do something before these crooks get the assets transferred through Arisanna to their pockets, which seems to be the next step in this scam.

Bon
Guest

If you provide the info on the forum would be fantastic these fucker need to go down

Bon
Guest

Hey Chris has anybody from eureka93 got back to you and in your expertise have you seen this before restructuring happen and then be semi successful lol

Thanks in advance

bambam
Guest

Chris, what’s your view on the fact that this massive destruction of shareholder value has not been accompanied by any accountability from those responsible : Rendimonti, Leaker, Aboud, Poli, McCunn ?? If what I’ve read above about the insiders lining their pockets is even remotely true, then this thing is ripe for further investigation.

Chang
Guest
They expected to be able to do a clean transfer of all assets into the hands of a few via the scam company Vitality but got screwed themselves because the market saw the b.s clearly. These guys should all go to jail. There is zero value to the inventory that they valued at 400 million dollars. The debt that has now been inherited is all owed to shell companies owned potentially by insiders. Does anyone here have the means to expose the owners of the company that was supposed to have lent Vitality 300k in return for $28 million one… Read more »
Fred
Guest
Hi Chris, Given how this whole scam would expose many if they started communicating with the investors more frequently, it is obvious that they would only chose to communicate as and when they want. Are you able to do any investigative journalism to keep the investors more informed during a very anxious and stressful time for many investors? I know you had high regards for Rendimonti even a month ago. Do you still feel the same way about him and his role in this scam? Do you foresee the CEO & CFO being forced to quit now? Is anyone here… Read more »
elaine
Guest

I am in that boat … Unfortunatly i speak french and I miss a lot of important informations… can somebody translate the big lines ?

Bob Mapusa
Guest

Where can I get a list of all the trades that happened since the stocked re-listed in July? While a lot of Shareholder value evaporated when the stock was halted after the acquisition, the stock went down almost 90% since trading opened. Anyone who knew that it was a scam would have pulled their money out.

Jake Johnson
Guest

You couldn’t pull anything out during this period. Scam from the get go. This was their plan (assets and debt etc) …..now no money and not trading again. Alot of money pulled out and paid by the bord. Look at the last Q financial release

Jake Johnson
Guest

Chris, update?
Rendemonti not returning your calls now?

Fred
Guest

No one at Eureka 93 is returning anyone’s call. They should bring back Shaunn Poli and some new blood that wants to get things done and doesnt work by the conniving, scamming ways of Tim McCunn, Rendimonti, Kent Hoggan & Owen Kenney. The RTO should be rolled back. Chris, would you know if legally/procedurally is there any chance that the RTO can be rolled back to give the Lvwl assets and all the money that Lvwl investors shelled out to Vitality to keep it afloat, back to the Livewell shareholders?

Ban
Guest

Now where suspended! I’m confused Chris. Are we still in the same boat? Has David return any of you calls?

Jake Johnson
Guest

Are you for real? Sean (and peter and tim) were part of the orchestration of this scam rto and brought rendemonti on board. Sean was paid out millions for doing nothing other than convincing investors into livewell and then E93 shareholder rto. He laughing at lall of us

Ban
Guest

Then what’s the plan

Ban
Guest

Hey Chris will be their be an interview with Sean Poli in the near future

Proton
Guest
And if there is, ask him how it is that he is still partnered with Rendimonti/Leaker as a co-owner (along with Peter Ayoub) of Relief Effects Inc, which is licensing its technology to Eureka…but the real question should be: What is the origin of this technology? Rendimonti and Leaker were both working for another cannabis technology company when the two of them formed Relief Effects Inc (neither had any prior experience in the cannabis industry); they later added Poli and Ayoub as co-partners in Relief Effects – rats, scammers and incompetent buffoons all, for their duplicitous acts and the massive… Read more »