Australia's largest stock trading and investment forum Australia's #1 stock forum

CGB

Click for more information

0.00%

2.1¢ cann global limited

Developing property no doubt takes a lot of time and energy....

First 60 Last

Share
Profile

Follow
YankieTank

924 Posts.

260

09/03/22

12:34

Post #: 60084242
Share

Originally posted by GoldDigger!: ↑

John_utah, the property was purchased by Chairperson and CEO (20A Benelong Rd, Bellevue Hill), via a private company (MBW Property Pty Ltd). AGMPL (privately held company that are directors) then rented the rear office space (24 Birriga Rd, Bellevue Hill) to QBL/CGB for approx $180k per annum.

Meanwhile said directors were living in 20A Benelong Rd.

So the first thing is that shareholders were paying a very large chuck of coin for the privilege to rent an office out the back of mum and sons house (for between 4 and 5 years). Secondly, they have now moved out and are developing the property and will stand to pocket a few extra million for their troubles.

Do you think this was an arms length transaction that benefitted all shareholders of QBL/CGB?

Expand

Developing property no doubt takes a lot of time and energy. Could this help explain the lack of announcements and growth? It no doubt takes a lot of money also.....

CGB Price at posting: 2.6¢ Sentiment: Sell Disclosure: Not Held
Upvote

0 Great analysis

Reply

There are more pages in this discussion • 3 more messages in this thread...

First 60 Last

Add CGB (ASX) to my watchlist