The Alberta Securities Commission (ASC) has concluded Settlement Agreements with Poseidon Concepts senior executives Lyle Dennis Michaluk, Matthew Cory MacKenzie and Clifford Leroy Wiebe in which they admit to breaching Alberta securities laws by filing financial statements that overstated Poseidon Concepts’ revenue and accounts receivable. The men held the positions of Chief Executive Officer, Chief Financial Officer and Chief Operating Officer of Poseidon, respectively.
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