Ann: Half Yearly Report and Accounts, page-58

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wasko

2,005 Posts.

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01/03/24

12:33

Post #: 72693395
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Originally posted by amb005: ↑

Wow, crazy, happening so quickly now. For years been sounding the alarm bells on CAN, even getting people saying "dont be ridiculous" when Im saying CAN will be lucky to survive to year recently. I remember all the back and forths about how much better CAN is because ECS is growing dirty low quality outdoor cannabis lol. So many arguements, but like always , all the bulls just slowly go quiet, company will get delisted, so theres no real reward for being right unless we shorted shares!

Its actually quite sad, and Im more left feeling sorry for the people that management tricks which is majority retail investors, as management are the big winners, a lot of these lifestyle characters walk away having achieved sweet F all but yet their bank accounts grow , unfortunately we got one of these characters on the board with Alex, trying to get more gigs on boards collecting free pay cheques off the backs of investors hard earned cash.

The CAN example is crazy though , really think about it over $220 million has gone in the last 4 years, where has all that cash gone? In comparison even with this recent $4 mill cash raise ECS has only raised $26mill in total and we have a huge cash flow positive business to show for it, huge fields of cannabis and a long future. CAN basically raised 10 times the amount and are in debt and have nothing to show for it except for an uncompetitive glorified warehouse, which is probably going to get sold for $5 mill by administration if they are lucky. Some people made a lot out of CAN but not the shareholders.

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The warning signs have been there the entire time. Anyone still invested in CAN was basically putting it all on one number on the roulette table.

Nan has been pretty vocal in all of the recent webinars that she expects some players to not last and that ECS will benefit from picking up their business. It shows she is on the ball and probably has a plan in place that is currently being executed to get that business across to us. Hopefully that means we can also get some of the CAN staff across to ECS also as they were a fairly large employer in the region. ECS has 65 staff so perhaps some room can be made for a few more if the forecast revenue is bumped up significantly.

ECS Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
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