Ann: Annual Report to shareholders, page-12

Hi @workingdog. I have been making enquiries into that myself. So when I hear back, I will let you know.

Hi @sharebroker1. I wouldn’t necessarily agree that the report was great, but it was sobering and digestible, considering the current global climate we are working in. I also appreciated more transparency regarding operations, the reasons for the “less than stellar” performance (not an understatement), and an update on Laos and Medcan in one statement.

IMO, the $9.4ML in the bank at least gives CGB some “wiggle” room for further investment without calling for (we hope) an immediate C.R.. Whatever this acquisition is, I hope we will see more robust revenue performance and happier balance sheets in future quarters.

QUICK OVERVIEW OF THE REPORT
Considering all the hubbub and work with the Transformation activity, the decision to undertake structural reform during the global pandemic to convert from a manufacturer to a production house was probably sensible, particularly with the logistic and supply issues that have been impacting commercial markets globally and staring down at the mess we now see within the Australian Cannabis industry. That reform decision may have saved the company to some degree. Time and performance outcomes, of course, will be the judge of that...but, I have to say, it was sad to see all the hard work put in by the manufacturing team go to naught.

THE INDUSTRY
In qualifying that, and from observing the performance of many of the Cannabis industry ASX companies in the sector, CGB’s decision to cut back costs and focus on production and distribution and eCommerce may be a somewhat sensible step for L.T. shareholders considering the high costs of manufacturing in the Aussie cannabis industry, as well.

When we look at the share price, there is no argument that the current price is a disgrace, but, as can happen with Pennies, share prices can recover under the right market conditions. Consolidation has, perhaps, helped that a little (somewhat bitter note for me personally). In contrast, it is tough, and I would dare say, virtually impossible for an ASX public to recover from bankruptcy or delisting.