"I am not the one you have to convince, it's cfda that are doing the approvals."
There is actually a new governing body that is responsible for approvals but for arguments sake Cdfa will suffice. I am not trying to convince you that it will be granted. I am trying to find out why you think it will not be but you refuse to answer the question.
"If as you suggest, all that has to be done is meet the criteria and approval is a formality, then there would be no need for the company to add a statement in the risk area that approval may never happen"
As I have mentioned before approval is not guaranteed and as such the company has a obligation to disclose that fact. I am trying to find out why it wouldn't be..... again feel free to provide a logical answer.
"You think its a formality but the company are tellimg you thwt isn't the case"
Please provide a reference? Is the disclaimer in the prospectus the only thing you are basing this statement on?