, /CNW/ – Pacific Potash Corporation (TSX-V: PP) (“Pacific Potash” or the “Company“) announces that its personnel in have advised that the funds wired to in order to make the tax payment due to the DNPM at the beginning of December were not received for unknown reasons and therefore the tax payment was not made by the required deadline. As a result, management has been advised that the Company’s tenemants in may be revoked by the DNPM. The new management team for the Company is working to resolve this matter as soon as possible.
The cheque’s in the post, Pacific Potash (PP.v) edition
This late evening NR made me grin:
Now, maybe just maybe juuuust maaaaaaaybe the lack of funds delivery has something to do with the fact that PP.v has been fined for non-payment and late payment of due taxes several times in the past, as at September 30th PP.v owed the Brazilian taxman $2.7m, of which $590k was due paid in the near term and as at the end 3q14 (i.e. the same september 30th) PP.v had the overwhelming total of six thousand eight hundred and eighty-nine Canadian dollars in treasury (as well as a working cap deficit of nearly $1.5m…but detail, yeah?).
Or hey, it could just be that the Vancouver Head Office did indeed wire that money to Brazil but for some strange reason it wasn’t received in good order. Hell I dunno, all one big innocent misunderstanding probably. Innit guv. Honest like.