they listed on 6th November and it's now 25th April so it's close to 6 month post-IPO.
they are burning cash like crazy especially with exec salaries.
they only made $44k....
They have had plenty of time to get things right in terms of:
1. Building up the SP with sensible announcements
2. Creating meaningful revenue and profit through selling product
3. Working out how to avoid the watchful eye of the TGA- one massive red flag is that they have a significant investor (Cronos) where a tobacco company (Altria) have a controlling stake and board representation. If the TGA found out that they now bought part of a medical clinic (Cannadoc) and are pushing their own products, this would have massive repercussions.
Firstly pharmaceutical companies can not buy medical clinics to sell their own products selectively.
Secondly, any sniff of tobacco companies involved in selling controlled goods as "healthcare merchandise" will likely lead to formal investigations.
CAU Price at posting:
9.0¢ Sentiment: None Disclosure: Held
