Did you notice the hard shell cap got mothballed when the doggy treats got backed into the company. Why? Because pharma costs money – and they obviously had other things to do with the money. CannPal was moneyless, IP-less and leaderless – and had zero prospect to raise money. It was tanking. So why was it brought in…at a premium? I’m sure the fact that the (then) new AC8 board members held CP shares, or in one case was the CFO of the major common shareholder, didn’t factor in at all.
Mothball Neuvis to justify stopping spend, get rid of all the staff who made it happen, babble about focussing on the doggy treats – which let’s face it, cost a lot less to pretend to develop. Put a smuck in charge who doesn’t know he’s serving a purpose – and kick him to the kerb when purpose is served. Purpose? Maximise the money in the kitty so you can ‘loan’ the money to yet another entity associated with the major shareholder.
Based on..? Disclosures of Board at acquisition of CP1, plus Director AC8 being CFO of Merchant. Look at the stats and WIPO for AC8 trial and patents vs CP1 info. Neuvistrial had real promise (was as good as oil in a better format and under conditions where oil would be optimised) and international patents. The crap results released about the dog treats had great spin and p-poor stats – all the results showed ZERO statistical effect. Ignore the words/spin in those releases and look at the numbers – there was nothing to see there.
All about the money in the bank. And one very small group of shareholders.
