I have sold almost all my CGB shares and holding to my last 500,000 very sad sold all the way down - the Management are 'burning' lots of money $$ quarterly and whatever receipts from customers can't even cover the rentals and administration and that is not even including the Directors salaries; at some stage there will be another round of fund raising but I doubt at this level;
I expected them to release more announcements to try get their SP up before a consolidation; hopefully get the SP to 2c before consolidation of 10 :1 so that the SP can be at 20c . CGB can't keep issuing shares at this level to raise more funds $ ; if they do at this stage they will have as much as 3 Billion shares eventually and they are no BHP!! hence I do see a consolidation and the process of issuing shares will start all over again till the drought is gone, decent crops harvested etc. and be profitable
Yes quite a 'bleak' to end of year and the above is my opinion
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