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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-28

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Christopher67

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21/10/22

12:38

Post #: 64320110
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Originally posted by milesy: ↑

What questions have they really answered.

* Revenue down, despite this new 'business model' being in place for some time.
* Product manufacturing and operating costs down 13%.....well that will happen if you produce less
* New business model...long term strategic plan....both mentioned but no actual model or plan outlined.
* Admin costs expected to rise....well all companies need to put on an AGM and get audited, so not sure why the 90K spend there even needs mentioning
* $22k spent on marketing.....for a $54k revenue return. So basically they are getting a $2 return for every $1 spend on marketing...seriously??
* $133k operating costs for a $54K return.....how is the (lack of) gross profit margin there?
* $224K staff costs for a $54K return....wonder how the meeting of KPI's is going there?
* Court action....someone elses fault.
* Supply chain issues and even climate change mentioned....someone elses fault
* Vague references to the huge 'heath and wellness' sector and 'Australian food'.....that is like me producing a new piece of software that has a very limted application and quoting the total sales of all software as my market.
* Biden cracks a mention as do the Greens...may as well algn yourself with the big names...legislation and legalisation may happen...but again, been talked about for years and could happen tomorrow, or it may be many more years away.

What happened to their cash. Wasn't long ago they had over $20 mill (even after doing a raise for a specific project that never went ahead, so they just kept the money anyway)

And finally, another suspension that is lasting way longer than expected. Billions of shares on issue.

Let's hope this 'acquisition' actually brings in a revenue producing asset and not some possible dream for the future again, otherwise there may only be a very short future.

The only positive thing I can say, after moving from saphires, to bauxite, to pot, over so many years, is it that the company's business model of changing direction and milking shareholders has worked perfectly. Unfortunately, the shareholders have been the only ones not to benefit from such a model.

Milesy

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At one time there was billions of shares, but they did a 25 to 1 consolidation,

There are only 258million shares on issue now (rounding to nearest million).

CGB Price at posting: 2.1¢ Sentiment: Sell Disclosure: Held
1 Upvote

0 Great analysis

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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-28

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