Ann: Medicinal Cannabis Investment Update, page-218

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noid222

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31/03/17

18:26

Post #: 23779707
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Originally posted by Harro222 ↑

Mate they are paying "consulting fees to CHP" and then taking more for themselves as Directors... that $1.3m will be gone in a few months. Look at their half yearly report. Astounding that they created their own consultancy arrangements, because they believe the work is over and above their rolls as directors. $240k (Torneys is $360k) for each director with a nice little "bonus" thrown in each of $150,000... plus they can issue additional performance fees. August 2016 Torney was paid $100k consulting work for 2 months work.... So there goes $1m. You can also add their Directors fees on top of this too.

THEN on top of this CMY entered into a mandate with CHP (Same directors) to pay them $150k per month (now reduced to $100k pm) plus 6% of capital raisings (do you wonder why they keep raising capital?). But dont worry that fees looks to have now finished any they will now be paid a fee on the introduction of new projects.. hrmmm what else will they introduce this month I wonder? Over 6 months this has cost $1m.

THEN on top of this CMY acquired 2.3 million shares in Stirling Wealth Group (what for, I dont know). Just by pure coincidence Messeurs Dykes & Torney are directors. This cost $692k. To top it off the investment has been impaired to nil until such time that investments in Stirling can be measured.....

Take a look at the expenditure to acquire these so called "projects" too... they are insignificant to consulting fees, employee benefit expense, share based payments expense.

But yes, let that share price run on the back of receiving back a couple hundred grand for the Cannabis venture, which was our money to start with, on the basis of "we might invest in Cannabis later".... makes sense! Do you have any idea the cost associated with developing, let alone exploring mining based assets?... think more $$$..... But dont worry the boys will gladly do another capital raising, and take 6% for doing so!

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Great post. Great historical and current research. Posts like this is what makes reading HC worth while. Unbelievable that what these guys do and get away with is totally legal. Enter CMY at your own risk IMO.

CMY Price at posting: 0.9¢ Sentiment: Sell Disclosure: Not Held
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