Morning BasPerhaps you might like to ask some questions of those who have orchestrated this destruction of wealth
That's a little overly dramatic isn't it. Anyone who has invested wisely wont be having their wealth "destructed".
The share dilution was plain to see on page 17 of the original prospectus under the heading Dilution Risk. Considering its only a few pages in, no one should of missed the bold heading. It clearly states "existing shareholders are expected to be diluted by approximately 51.6% on completion of the acquisitions and the companys reinstatement to trading". Now with the additional shares being issued this dilution has increased by one tenth of a percent to 51.7%. One tenth of a percent is hardly grounds for people to start doubting their investments or accusing the BOD of well......being the BOD.
The fact this and all other risks were clearly stated (including time frames) gave people the option of not participating in the CR. There was also plenty of warning the TH was coming so if some don't like the BOD or the fundamentals why did they leave their funds invested? Maybe a better question might be, Why invest in the first place if the BODs performance doesn't meet their criteria....strange. Like you say one of the first things you should look at when investing in a company is the BOD. I am the first to admit that the BODs past performance is less than desirable but lets focus on the immediate past and present. The passion and enthusiasm these guys have displayed for the future of MM and CGB in general is worth commending. In fact I am going to send Sholom an email shortly doing just that. I would think none of us really know the logistics involved in going from a state run mining company to a global cannabis company. As for running a global cannabis company its not like running a chicken shop or a maccas franchise, there are going to be mistakes made. Its a new industry, every company starting up will initially be feeling their way through it and could anyone of us do any better? I like to think I am a pretty good negotiator, networker. In the space of several years I went from working for $9hr to now $49 through networking and negotiation. I couldn't of put together the deals these guys have let alone build a Global company from scratch.
There is another MM company at this end of the market I considered investing in until I found out a certain individual was on the BOD. I don't tend to comment as a non holder but with what I knew I felt obliged to at least warn holders of what I knew. While I didn't get shot down, its pretty obvious very few if any listened. A few months later this individual had issues with his fellow board members so decided to tell the world via social media what shareholders money is really spent on.....a bloody good time by the sound of it. The SP tanked the following week and hasn't recovered. In the three years this company has been listed they have put together as little as one deal a year and boy are they vague. How many deals has QBL put together in lets say six months. A lot more than these guys have in three years.
That's what I focus on. The fact that holders are considering dumping their stock on open amazes me. Doesn't anyone see anything through anymore. Why invest, put yourself through the pain of a TH then dump your shares on the first day the company is officially "the company". At least give them a quarter to show growth then decide.
Sure is a "I want it now society".
As far as shares continually being thrown around instead of cash. Didn't they spend two million on a state of the art Hemp dehulling machine. I am pretty sure that wasn't paid for in shares....
Regards..
