Ann: Trading Halt, page-133

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Owl vs Fox

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17/07/18

08:21

Post #: 34382016
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Originally posted by pnh88 ↑

No, you are pretty much on the money with your positives foot max

Spent nearly 2hrs with Roby this morning. No issue with being unannounced. Happy to talk with me. I will cover some of the detail later as its late.
Summary:
Legally the BOD were advised to announce the deal with Varmco because of the signed T&C’s are legally binding. The issue of a deposit is to be resolved in the second half of this year. It’s not dead in the water yet. Samples sent over to Varmco represented $30k
I could not visit the productive facility as now with GMP it is critical that I am sanitized correctly which means wearing protective clothing etc. I did not have the time anyway. Take from that what you will.
Saw lots of photos of Roby standing in amongst a warehouse full of cannabis, all of which is grown and owned by MGC. ( yes I know that the photo could have been “photoshopped” but I believe its genuine)
MGC have both a GMP certification and a manufacturers license. This in addition to MGC planting where other competitors enter into partnership deals (read have less control) puts MGC into a leading position internationally. MGC should have a market cap of at least 3 times what it is now with or without the Varmco deal if its to be compared with its competition. Lines up with my rough valuation of 22c per share
CannEpil does not have medical approval but can be sold as a IMP (investigational medical product).
THis is allowed apparently so that anecdotal evidence can be gathered and be part of a scientific investigation. The rules around medical approval from gov’t agencies can take years but at least product can be sold legally under this classification.
Another point which flawed me was that of directors salaries. As a kiwi ( may be different in Australia) my understanding of accounting protocols is that salaries are actual amounts paid. Apparently not here. Remuneration as reported in the annual report is a combination of cash and valuation of shares at balance day. So you may have zero cash and 10 million shares @6c = a salary of $600,000?
Can anyone throw any light on that?

To be continued....

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That’s great @pnh88,

Thanks for the update. It’s good to see hygiene & protocols are so strict for the production facility & basically you have to wear a HAZMAT suit. Thanks for updating us & glad you had a warm welcome from Roby. Interesting about the salaries for Directors. Maybe the Ferrari theory is wrong & they are struggling along with the rest of us then? .

MXC Price at posting: 6.5¢ Sentiment: Buy Disclosure: Held
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Ann: Trading Halt, page-133

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Ann: Trading Halt, page-133

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