I am well and truly underwater on this one but the recent demise of Cann group made me rethink maybe post the Washer era and Merchant being involved they have done quite a few things right- - in the previous regime it was all go like most Cannabis companies , investing in South America, building a state of the art specialised facility, spending big on a encapsulation technique and putting on a sales force to service a non existent but hopeful market . - post that they divested the loss making South America operations, leased out and later sold the specialised facility, cut the overhead spending and conserved cash until the market could catch up to the hype. - only big mistake they made was doing a scrip purchase deal for the pet business which didn’t live up to the hype from the MAFS star CEO but was probably worth a scrip deal given Pets market was likely to open up pre Human market and companion animals is a huge and growing market now. - we are now looking to potentially a deal with a large European grower and distribution network, will it work, I don’t know but at least there is still cash, we have a majority stake in the pet business with no risk or expenditure if it ever comes good, the Neuvis IP if the human pill dosage happens. Long way to go , big gamble still, but with the benefit of hindsight they actually dodged the iceberg so far that many others are hitting now in what has been a wild ride on the good ship Canntanic !!! Just another perspective why I am at least prepared to Listen to Andrews story.
AC8 Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
