And at this rate of 11m burnt for R&D facility, the cost of new staff and the day to day running of this facility, importing cannabis oil for production of the capsules and fee to PCI, cash contribution to run Daycann in Chile, paying their own staff, and a lot of other activities (if true that they are actually running a business), the 40m in the bank will evaporate quickly. AusCann would return to capital raising in 2 years and this time it won't be at $1.10 or 44c.
I found what the Yanks think about AusCann which is trading in the US as ACNNF on OTC market.
How dare they predict that share will be under 1c in a year? I think they look at it purely on technical aspects of the historical chart. While I don't think AC8 will be at 1c by Aug this year as they predict, but on their chart, it shows that AC8 would have the last hurrah to a level around 64c around end of Mar before an irrecoverable decline to 1c. I am not a believer in the timing accuracy of charts however I do watch the trend as indicated by the charts. There is a small chance that these Yanks are right.
On OTCQX, AusCann is traded at reasonable volumes. They look like about 1/6 of what we have on ASX. They 148K of shares changing hands yesterday. All prices are in USD.
Anyone here wants to play this final hurrah? It looks like there is one final 50% pop for the lucky ones! If you play this, make sure you set a stop loss order. What I don't like is that they predict a pop from over 40c rather than 34c. I am not comfortable entering above 40c. However, I am happy to miss this play as I struggled to get out a while ago with a profit.
By a long shot that if the Yanks behind Walletinvestor were right, we might end up with a new business called "Cann Lollipops Holdings" developing cannabis lollipops pain reliever for all ages showing up out of the blue doing a reverse takeover IPO, revaluing at 20:1 ratio and the cycle goes again
AC8 Price at posting:
44.0¢ Sentiment: None Disclosure: Not Held
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