Since 1 July 2020 this thing has traded between 0.004 and 0.006 - I can not see where there is any value in the SP for shareholders. Add to that - +3.5 billion SOI and it is even more difficult to imagine where growth in the SP will come from?
I think the cap raise 'gravy train' has run out of steam
At the top of the CGB thread there's a link to a video titled, "
Cann Global Sholom Discuss Financial Results Aug". I found that video completely unwatchable.
As I watched that I thought, "...
how much more cash will they spend on themselves and things like that 'research soufflé" crap'? What chutzpah was another thought that appeared more than once.
I also wondered where have pro posters gone? Wherever they are - I have great sympathy for! For example - if they bought in during the "company transforming" blah, blah, blah then they have
lost 85.71% of their capital. Worse - had they (and people did) bought at 0.094 on 4 Dec 2017 and sold on Friday then they
would have lost 94.68% of their capital. Those losses also exclude any dilution of capital.
Speaking of losses - the accumulated losses of CGB currently stand in
excess of $35,000,000.00 - yes that's +35 million dollars. In amongst all of that financial carnage one is forced to ask;
(a) Who has been benefitted? I ask because, some person or, persons must have because who keeps the doors open of a company that simply accumulates losses? Where is the incentive?
(b) From a financial perspective (using accepted and publicly available financial metrics) - what is the rationale for continuing to spend other people's money?
Continuing to speak of losses, a simple glance at the Return On Equity (ROE) -
all are negative.
(2017) -16.3
(2018) -46.8
(2019) -128.8
(2020) -81.6
Continuing to speak of losses, a simple glance at the Earnings Per Share (EPS) (c) -
all are negative.
(2017) -0.150c
(2018) -0.320c
(2019) -0.400c
(2020) -0.250c
Continuing to speak of losses, a simple glance at the Net Profit After Tax (NPAT) ($m) -
all are negative.
(2017) -1.9
(2018) -5.0
(2019) -6.4
(2020) -8.0
There are posters on the CGB thread (thankfully one of whom's posts I have chosen not to view) who post lots of 'hopeful' statements and they continue to imagine a bright future - which is fine and I understand that. However, while one or two might have the capacity to suspend rational assessment, they should not expect the same from others.
The figures posted above are facts. People are entitled to interpret facts however they choose. My interpretation is that this company, in its current and previous iterations, has not provided any return for its shareholders. It is common, when companies lose money consistently, for the BOD to accept responsibility for their failures, consider their position and, in some cases, resign.
When one views the video above you could easily be forgiven for believing that the opposite of the numbers presented above is true.
