Further to my prior post tonight ...this is one of the posts...

Further to my prior post tonight ...this is one of the posts from HempCFO I would be referring to ... dated 13.04.20 ..
and links to the BOD restructure announcement of 06.04.20


The former CEO is not a good businessman. No training at all. No education. Just a fast talking Disallowed pusher.

He spent all investor funds on self aggrandizing nonsense to support his “press release about himself” habit. Narcissism is very expensive.

Current management had to clean up the messes and write off all the drunken sailor spending as losses this year.

Plenty of announcements.

July, numbnuts steps down.
September he quits.
Product illegal in Japan. Whoops! 4 million dollars gone.
Getting weed licence too hard. Whoops, another 4 million gone.
Wasting money in Europe: where farmers get subsidies to grow locally.
Hemp Foods Australia shuts down. Whoops, paid numbnuts $11 million for it, sold it to the Chinese for 500k.
Burnt up $25m a quarter for two years on basically strippers and beer. Meh, it was other people’s money anyway, numbnuts didn’t care.

Basically, the company just blew money on a “future” that didn’t come fast enough and the CEO’s ginormous ego. $80m in losses just last year and they still carry 34 million of “intangibles” which are, in reality, worthless on the balance sheet.

It will be gone by year end at most