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CGB cann global limited

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Ann: Replacement Rights Issue Prospectus, page-44

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GOL1

84 Posts.

39

05/07/20

09:24

Post #: 45649608
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Originally posted by oeblow: ↑

I've been in CGB/QBL for a few years now. Got caught up in the QBL story and ended up with a few million shares. I even participated in the last big curly QBL (.007 I think it was) issue but had decided after that I wanted out

And then the whole Cannabis thing came along and they did some really good deals vertically integrating the edible side of the business and then the medical side

I distinctly remember them saying that the great competitive advantage they were going to have over other Cannabis companies was that with the edible side they would be able to survive (as in make a small profit, or at least pay their way) and this would fund the much slower moving medical side - And I Believed them!

And after 2-3 years of growing it and selling good products etc, and I think by now (with bit of frugal management) they could have been (like they said!) had been making a few bucks by now , I thought they were on a trajectory to being a great company in a new exciting industry. I participated in everything, ended up with over 11mil shares

But what have they done instead - they decided to go Stew Pid, gave themselves massive pay rises , changed their headquarters to big fancy office building (no doubt much more expensive than the other place), and went on a a big complicated curly 'rapid' Asian/ South African (i think) expansion binge

There's no money anywhere, any revenue from the edibles is rapidly gobbled up with all this other stuff, and now their got a big court case thing to fight to boot. I've got to agree with benporta 'imo it won't be long and it's over for cgb'

I think Pnina was saying something to the extent that SH's should participate in the latest crazy .005 rights issue because Cgb had so many balls in the air that anyone of them could suddendly take off and presumably untold dollars could start falling on Cgb and everything would be right again- No! imo that's not going to happen anytime soon if ever!

This latest .005 capital raise thing was a major red flag for me (and how long would that money last given the unfavourable difference between the revenue rate and the burn rate) and then naturally they would need more money would they not?

I'm so disappointed imo Cgb is all a giant lost opportunity. I've been down this road before with companies that can't make a quid. SH confidence totally crashes, funds become unraisable and it reaches a point where there's no money to run the show and that's it, game over

I've certainly lost all confidence. As soon as that (almost a billion new shares @ .005) offer came out the warning bells started clanging in my head- I can see where this is heading!

Sold the whole lot for .005. Lost a lot of money and grieving for what I perceive as could have been a great now lost opportunity

It really hurts

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Problems with this type of companies is the consequence of the incompetence and misdoings of the directors . BUT ASX and ASIC are equally guilty. Announcements of the companies are issued after their approval. The directors of the QBL/CGB must have been taken to court after their dividend and 8c CR and .... announcements.

CGB Price at posting: 0.5¢ Sentiment: None Disclosure: Held
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