Hi LTH's,
Updated my notes from the last quarterly...
December 2019, Cash On Hand (COH) $26,080,000.00
March 2020, COH $24,700,000.00, a drop of 5.29%
June 2020, COH $19,180,000.00 -22.35%
September 2020, COH $16,800,000.00 -12.41%
December 2020, COH $15,230,000.00 -9.35%
March 2021, COH $14,800,000.00 -2.82%
June 2021, COH $13,680,000.00 -7.57%
September 2021, COH $12,500,000.00 -8.63%
December 2021, COH $11,429.00 -8.57%
On 30th December 2019, the SP of AC8 was $0.28 reaching $0.36 on 20th January 2020.
By 31st December 2020, the SP had dropped 30.36% to $0.195.
During this one-year period, the company managed to spend $10,850,000.00 reducing the COH by 41.6%.
Here’s the Positive Spin:-
During the period December 2020 through to December 2021, the company has managed to spend $3,801,000.00 reducing the COH by only 24.96%.
That’s $7,049,000.00 less than the previous year!... or a whopping 64.97% less than the previous year so yes, I see an improvement under Layton’s command however; This stock remains the worst performing stock in my portfolio to date and I have nicknamed it, my ‘Warren Buffett’ stock as it is going to be with me for a very, very long time!
Yes, patience is the key and I truly hope that the restraints on bringing revenue streaming in can be unlocked pretty soon!
Regarding revenue, let’s not forget the following;-
·Lease agreement which will bring in $475,000.00 per annum but not for the first 6 months as Source Certain International (‘SCI’) have been given a ‘leg-up’ of $237,500.00 just for taking over the redundant space!
·$500,000.00 from the sale of its 50% owned Chilean joint venture, DayaCann SpA (DayaCann) with an additional $500,000.00 coming from two installments over the next 2 years.
·Refund from the Australian Taxation Office of $1,561,518 in accordance with the Australian Government’s Research and Development Tax Incentive Program.
I repeat my comments on my review on the September quarterly…
“I will be absolutely amazed if this stock picks itself up out of the gutter! If it does, then I will be the first to raise my glass to Layton.”
With the SP now sitting at a new 5 year low of just $0.071 per share, (a drop of 51.03% from the SP of $0.145 on 18th March 2021 when Layton took over the reigns) we can only hope for the best and look forward to raising our glasses to Layton and his team.
Just for a bit of fun, I wonder what the next opening word/words will be for the cash balance at the March 2022 Quarterly?
Layton prefers ‘Well funded’, Nick Woolf‘Robust’ and Quinten Megson was ‘Strong Cash Balance’!
I’m going for ‘Hardy’!
Any other suggestions keeping in mind the current ‘trend’?
Until the next Quarterly, TTFN.
Please DYOR and GLTALTH’s.
Regards,
Peakabooau
