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SEC Investigation
−Removed: We received a subpoena from the SEC in October 2020 requesting certain information from us, including information regarding testing, testing results and details of results from our GEN I and GEN II technologies and certain of our partnerships and agreements.
−Removed: In March 2022, we received a subpoena requesting additional information, including information concerning our reverse-merger in 2015, and communications with certain individuals and entities.
−Removed: There have been no further information requests relating to the Company’s business or technology.
+Added: As previously disclosed, we received a subpoena from the SEC in October 2020 requesting certain information from us, including information regarding testing, testing results and details of results from our GEN I and GEN II technologies, and certain of our partnerships and agreements.
+Added: In March 2022, we received a second subpoena requesting additional information, including information concerning our reverse-merger in 2015, and communications with certain individuals and entities.
+Added: There have been no additional information requests from the SEC relating to the Company’s business or technology.
The SEC informed us that its investigation does not mean that the SEC has concluded that anyone has violated the law and that the investigation does not mean that the SEC has a negative opinion of us.
We cannot predict when this matter will be resolved or what, if any, action the SEC may take following the conclusion of the investigation.
−Removed: On September 30 th , 2022 the U.S.
−Removed: Securities and Exchange Commission (“SEC”) filed a complaint (the “SEC complaint”) against several named defendants (“Defendants”), and also identified as a relief defendant Daniel Solomita, our Chief Executive Officer.
−Removed: The SEC complaint does not allege wrongdoing by Loop Industries or Mr.
+Added: On September 30, 2022 the SEC filed a complaint (the “SEC complaint”) against several named defendants (“Defendants”), and also identified as a relief defendant Daniel Solomita, our Chief Executive Officer.
+Added: The SEC complaint does not allege wrongdoing by the Company or Mr.
The SEC complaint identifies Mr.
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Risk factors relating to us are set forth under “Risk Factors” in our Annual Report on Form 10-K, filed on May 27, 2022.
−Removed: No material changes to such risk factors have occurred during the six months ended August 31, 2022.
+Added: No material changes to such risk factors have occurred during the nine months ended November 30, 2022.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.