Court Update November 28th 2022 Medcan v CGB, page-235

WD, from my past experience with ASX reporting, is that there can often be special circumstances governing the posting of announcements during extended suspension periods. There have been no penalty notices, for this company, that we are aware of, so those conditions/ or allowances "could be" in place now, which do not require public companies to post explanatory notices about the machinations or discussions that are occurring between a public company and a regulatory body. I do not have the answer to that one. My best guess!

Regarding optics, well that is a different story, and Retailers are often the noisiest about it if their money is tied up. CGB has failed miserably over the past few years, undortunately. Pennies can be driven into the ground if Retailers hate a stock through the power of SM, just as some can be pumped if circumstances of business dealings do not match Ann's out the door. ASIC is often on to those guys, as we have seen in Reddit, and in some cases here on HotCopper.

From a reading of the latest Quarterlies, the whole sector has crashed pretty much. Some, of these companies, as you have observed, have just continued to burn through C.R money whilst production costs eat away at any potential profits. A few of these guys (part interested or full interest) that did make a profit were helped by tax refunds not actual revenue sales.

AC8 - $778K PFT | $1224K - TAX INCENTIVE | NO REVENUE | $2401K - CIB | 5.38 - EQFA
AGH - ($1638K) LOSS | $10557 - STAFF/RES/PROD.CST | $8911K - REVENUE | $5297K - CIB | 3.2 - EQFA
AVE - ($523K) LOSS | $441K - STAFF/RES/PROD.CST | NO REVENUE | $924K - CIB | 1.76 - EQFA
BOD - ($1071K) LOSS | $1829K - STAFF/RES./PROD.CST | $813K - REVENUE | $3334K - CIB | 3.1 - EQFA
BOT - ($1681K) LOSS | $1788K - STAFF/RES./PROD.CST | $107K - REVENUE | $5165K - CIB | 3.1 - EQFA
CAN - ($5690K) LOSS | $9250K - STAFF/RES./PROD.CST | $4137K - REVENUE | $1224K - CIB | 2.0 - EQFA | $65760K - LOAN
CPH - ($4191K) LOSS | $6415K - STAFF/RES./PROD.CST | $2591K - REVENUE | $1069K - CIB | 0.45 - EQFA
ECS - ($470K) LOSS | $4788K - STAFF/RES./PROD.CST | $4374K - REVENUE | $2114K - CIB | 6.2 - EQFA
EOF - $18K PFT | $3843K - TAX INCENTIVE | $10669K - STAFF/RES./PROD.CST | $6781K - REVENUE | $7544K - CIB | $26406K - LOAN
EPN - ($390K) LOSS | $1847K - STAFF/RES./PROD.CST | $1565K - REVENUE | $521K - CIB | 3.52 - EQFA | $3435K - LOAN
EXL - ($285K) LOSS | $996K - TAX INCENTIVE | $3029K - STAFF/RES./PROD.CST | $1738K - REVENUE | $1853K - CIB | 6.5 - EQFA |
HHI - ($255K) LOSS | $6151K - STAFF/RES./PROD.CST | $5957K - REVENUE | $426K - CIB | 5.0 - EQFA | $3894K - LOAN
IHL - ($4286K) LOSS | $4513K - STAFF/RES./PROD.CST | NO REVENUE | $37141K - CIB | 8.7 - EQFA
IRX - ($676K) LOSS | $677K - STAFF/RES./PROD.CST | NO REVENUE | $1450K - CIB | 2.14 - EQFA |
JTL - ($182K) LOSS | $1823K - STAFF/RES./PROD.CST | $1729K - REVENUE | $128K - CIB | 0.7 - EQFA | $1818K - LOAN
LGP - ($1218K) LOSS | $7571K - STAFF/RES./PROD.CST | $6675K - REVENUE | $12400K - CIB | 10.2 - EQFA $7779K - LOAN
MXC - ($2440K) LOSS | $2822K - STAFF/RES./PROD.CST | $567K - REVENUE | $315K - CIB | 3.3 - EQFA | $14600K - LOAN
RNO - ($3314K) LOSS | $3236K - STAFF/RES./PROD.CST | $1846K - REVENUE | $316K - CIB | 0.9 - EQFA | $3391K - LOAN
ROO - ($115K) LOSS | $179K - STAFF/RES./PROD.CST | $55K - REVENUE | $3K - CIB | 0.0 - EQFA | $211K - LOAN
SCU - ($376K) LOSS | $385K - STAFF/RES./PROD.CST | NO REVENUE | $981K - CIB | 2.61 - EQFA |
TSN - ($946K) LOSS | $1732K - STAFF/RES./PROD.CST | $836K - REVENUE | $3K - CIB | 0.37 - EQFA | $2930K - LOAN
ZLD - ($1156K) LOSS | $2024K - STAFF/RES./PROD.CST | $77K - REVENUE | $1417K - CIB | 1.00 - EQFA | USD$8600K cornerstone fund

I noted comments about products not selling, but I have also seen the large revenues for some of these Cannabis players being wiped out (SEE ABOVE) by the high staffing and production costs of running operations in Australia.

So the question is really for these guys, do you reign in the spending, make cuts with staffing etc until you find that right product? Do you become a boutique dealer or product broker like the old THC? Lots of questions are floating out there. Many of these stocks now carry loan portfolios to keep their doors open I have noticed this Quarterly.

Re the future: We are just past the halfway mark for the 10-year Pharma cycle with Cannabis. COVID is out of the way, so we need to get through these interest rate hurdles now. Stocks, in general, are down due to discretionary spending being reined in by many M&D investors, which also affects share price volatility.

IMO, the Cannabis Industry needs to come together as a peak body, legislation needs to change, and then we might see a turnaround, but we don't want to go the way of Canada as the medicinal cannabis industry has been decimated by the recreational guys. Why pay the big price on med when you can get rec. May explain Canntab's situation.