Evidence of meeting #140 for Public Accounts in the 44th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was ouimet.

A video is available from Parliament.

On the agenda

MPs speaking

Also speaking

Stephen Kukucha  As an Individual
Guy Ouimet  Corporate Director, As an Individual
Clerk of the Committee  Ms. Hilary Smyth

1:05 p.m.

Conservative

John Nater Conservative Perth—Wellington, ON

To clarify, then, are you of the opinion that this was the same individual—Witness 1—who testified before this committee, or was it a different individual?

Stephen Kukucha

As I stated in my opening comments, it appeared to be different, just because of the tonality of voice. There was something in the voice of the two individuals that appeared to be very different to me. That is why I made the statement that I did.

1:05 p.m.

Conservative

John Nater Conservative Perth—Wellington, ON

Thank you for the clarification.

As a last question on this matter.... You did note that you made contemporaneous notes of that conversation. Would you be willing to provide to this committee the notes from your conversation ?

1:05 p.m.

As an Individual

Stephen Kukucha

If the committee requested them, I would happily turn them over.

1:05 p.m.

Conservative

John Nater Conservative Perth—Wellington, ON

I personally would request it as a member of this committee, but we can deal with that as a committee later.

1:05 p.m.

Conservative

The Chair Conservative John Williamson

Let me just pause there. I don't think that's necessary.

Is that something you're prepared to do, Mr. Kukucha, on the request, or would you prefer that we pass a motion on that?

1:05 p.m.

As an Individual

Stephen Kukucha

Mr. Chair, I'm not sure of the law around being compelled to provide information to a parliamentary committee versus my former duties as a board member. I'd need to either seek legal counsel on that or defer to your passing a motion to require that.

I'm prepared to do whatever this committee requires me to do.

1:05 p.m.

Conservative

The Chair Conservative John Williamson

Let me come back to you on that.

Go ahead, Mr. Nater.

1:05 p.m.

Conservative

John Nater Conservative Perth—Wellington, ON

I'll pass my time to Mr. Perkins.

1:05 p.m.

Conservative

Rick Perkins Conservative South Shore—St. Margarets, NS

Thank you, Mr. Chair.

Mr. Kukucha, how much was your initial investment in Terramera?

1:05 p.m.

As an Individual

Stephen Kukucha

In 2016, I made a $15,000 investment.

1:05 p.m.

Conservative

Rick Perkins Conservative South Shore—St. Margarets, NS

What is that worth today?

1:05 p.m.

As an Individual

Stephen Kukucha

I do not know. This is a private company. I'm cautious, because it's a private Canadian company trying to do good work. I know that they went through a split of some sort. I could not tell you what that's worth today, but—

1:05 p.m.

Conservative

Rick Perkins Conservative South Shore—St. Margarets, NS

How about Rotoliptic? What was your initial investment there?

1:05 p.m.

As an Individual

Stephen Kukucha

My initial investment there, sir, was $200,000.

1:05 p.m.

Conservative

Rick Perkins Conservative South Shore—St. Margarets, NS

What is that worth today?

1:05 p.m.

As an Individual

Stephen Kukucha

Again, as it is a private company, I do not know the valuation of that, and I would not want to speculate.

Let me say that I think both companies have seen challenges over the last couple of years. Like anything with venture capital, these are risky investments.

1:05 p.m.

Conservative

Rick Perkins Conservative South Shore—St. Margarets, NS

Okay.

How much was your initial investment in Ecoation Innovative Solutions?

1:05 p.m.

As an Individual

Stephen Kukucha

Again, it was a very small amount of $15,000, in 2017.

1:05 p.m.

Conservative

Rick Perkins Conservative South Shore—St. Margarets, NS

I assume that it's the same thing on current valuation.

1:05 p.m.

As an Individual

Stephen Kukucha

That is correct.

1:05 p.m.

Conservative

Rick Perkins Conservative South Shore—St. Margarets, NS

Okay.

Mr. Chair, I would like to move a motion right now, if I could.

1:05 p.m.

Conservative

The Chair Conservative John Williamson

Just hold on while I deal with this matter with Mr. Kukucha.

Mr. Kukucha, here's how we generally proceed. The request was put to you. You seemed agreeable. Could you check, then, on your ability to provide us those notes? If you cannot for legal reasons, please get back to us. As I'm sure you know, the committee can move to have you submit them, which then elevates it. There are other steps after that. We don't normally go from zero to 60 at first blush. We don't typically need to do that.

As I said, you seemed to be agreeable. If you can provide those notes or get back to us with a detailed explanation as to why you cannot, would that be agreeable for now?

1:05 p.m.

As an Individual

Stephen Kukucha

Yes, Mr. Chair.

1:05 p.m.

Conservative

The Chair Conservative John Williamson

Thank you very much. That matter is settled for now.

Mr. Perkins, you have the floor, please.