I feel for shareholders who have invested over the last couple of years they have taken part in capital raises way over the valuation, but that was due to multiple factors including recreational legalization in north America there was a lot of FOMO. Were any of you guys aware the CEO was diagnosed with skin cancer pretty much just after he took his place as CEO, i mean i feel for the guy but should he have not stepped down, i feel like this could have been a huge culprit as to why things were taking so long to build at Mildura.
Apparently, he is able to survive today through Immunotherapy injections, which is good to hear but i really feel like shareholders should have been disclosed. Does a man suffering from the symptoms above really have the sense to run a multimillion-dollar company? Shouldn't he have notified shareholders and temporarily be replaced? perhaps the Mildura facilities completion would have been timely and shareholders would have saved 10's of millions of dollars in unnecessary funding.
Good to hear is able to live with skin cancer due to today's medical tech but he has done a poor job of being a CEO and keeping shareholders informed i really think he needs to step down and be replaced by someone fresh and charismatic that can provide a clear and concise vision of the future for CAN.
I think CAN is still in a position to be the biggest player in the Australian medicinal cannabis sector, they are the only ones within the sector to have spent the needed money to develop testing, manufacturing, and processing equipment to meet GMP and TGA standards, plus with Satipharm they have everything in place. All they need to do now is complete the stage 1A of the Mildura facility and they should be able to be first to obtain licenses to provide low dose CBD over the counter to a customer base estimated at 2million people, first license will basically have no competition.
Based on these two purchases from the deputy chairman who i believe is the real man who runs the show behind the curtain. Looks like he wasn't too serious during last yrs CR? this one though he has put 15x as much money and i did some investigating to see his avg price per share and it turns out it is around 33c per share.
In summary investors have been milked dry and shareprice has been depressed to such low levels they are now even attractive to insiders, mildura facility is actually close to being complete and CAN have the highest chance of being first to secure s3 low dose cbd OTC. ALL IMO DYOR and Good luck.
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