Open letter for our new CEO - Mr Wolff, page-3

Geez, you guys really want to ask the CEO to beat a dead horse. It's pretty clear that if you grow cannabis plants, you NEVER get anything newer than what already known (the various natural compounds that have some herbal characteristics). The only way to create anything else "new" is to either genetically engineer the plants or create some sort of artificial reaction between the cannabis oil and some other chemicals. Neither of these options is within the budget and expertise of AusCann. These options are also expensive, risky and take forever to research.

All AusCann can do now is to import some oils, rebrand by slapping a sticker on and write some hype to try to sell using its current licenses. This is something other companies are doing or about to do.

A new CEO will need 6 months to get some idea about the business and what to do. Then it takes 6 months to start something. It also takes money to do things. So, we are looking for 12 months down the track and some cash burn and possible cap raising. The trouble I see is that no one is going to participate in another cap raising with AusCann. I can imagine a cap raise at 10c from a company without any product is not going to be a winner.

Currently, the market cap for AusCann is about 50m. Once its cash reserve goes down to about 8-10m, I can see that the market cap is likely down to about 25m-30m. The next leg of the share price is not going to be pretty.

I have unloaded all AC8 shares that I bought for quick play (and got stuck for 3 months!). I know people would say I should not be around here when I don't hold any share. All teh best to those who still hold AC8 shares. I will come back to have a look in 3 months to see what people think about this stock.