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30.0¢ argent biopharma limited

Ann: December Quarterly Activity and Cashflow Report, page-37

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18/01/19

22:08

Post #: 37161092
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I could be wrong here but I don't think the $5mil was for construction but the payment to the Maltese government for the licence.
If anyone knows for sure I'd be happy with any clarification.

Originally posted by Rodawg880: ↑

My analysis for what it is worth:
This December quarterly will be an outlier as it includes the one off payment from cannaglobal. Until we know how regular and how large the payments from cannaglobal are, it is risky to include them in any analysis of how the company is progressing. This affects both the cost of sales and income stream.
However there is an increase in CBD sales by 52000. Nowhere near enough to show a healthy bottom line. However sales of cannepil should be beginning and some reflection should show through this quarter.
The cost of sales versus the actual revenue is pretty poor almost cost as much as they earned however I would assume this is a lag as the production cost would be for the next quarter. An encouraging sign is the increase in their production of production costs.
They are burning slightly more money than previous quarter but still plenty left. The Malta is an interesting caveat to this. The CR was for the funding of Malta. They seem to be using it for other purposes at the moment.
The restructure of remuneration is a bit of publicity stunt. Obviously the first strike has motivated them to change but when all you do is shift numbers rather than actually do the changes that are required I think shareholders will see through this and strike two may well be on the way. Brett mitchell was getting 320 000, now he gets 240 000 a year with 30% bonus for shares. so in effect same salary. I appreciate that it is now performance based but I would suggest his performance over a long period of time should result in him moving on. Especially given his treatment of shareholders.
If I were to grade the report it would be a C+. A bit better than average but the next quarter will be the one where revenue needs to be delivered. The potential is there but alas I think the management is not.

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MXC Price at posting: 4.4¢ Sentiment: Buy Disclosure: Held
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