Ann: Half Yearly Report and Accounts, page-55

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wasko

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01/03/24

11:26

Post #: 72691154
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Originally posted by amb005: ↑

Wow just so brutal, its amazing how we were saying, literal years ago at this point, that CAN had NO way of paying the interest on the debt let alone the debt , yet the bank lent to CAN, with no way of getting their money back. Like usual, all the management that made the worst decisions have all left, pockets full, shareholders left with nothing . Not long until company is in administration. Its basically legal theft, how they spent over $220 million in the last 4 years and be on the verge of bankruptcy is puzzling, Im betting a lot of 'contractors' were friends of management easy transfer of cash out of the company. They spent over $220 million, not producing as much cannabis as ECS, nowhere near cashflow positive, what do they have to show for it?! A glorified warehouse. An investigative journalist would have a field day with CAN.

Then here we are ECS with financials that are miles better than CAN by any metric, and apparently we cant get more than $2 mill, prob has a lot to do with NAB likely taking a $65 million hit with CAN, as they are unlikely to get much back from firesale of their facility.

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Yep, ASX suspended their shares this morning. Will probably take secured financing to get the auditor to change their conclusion and for their shares to trade again. Hopefully some over there have listened to us and taken what money they could, I know at least one who hasn't and fought us tooth and nail the whole way (guess who).

Also now on Cannabiz:
https://www.cannabiz.com.au/cann-group-shares-suspended-as-auditor-reports-insufficient-evidence-of-future-funding-needs/

ECS Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
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Last 1.5¢		Change 0.000(0.00%)		Mkt cap ! $19.32M

Open	High	Low	Value	Volume
1.5¢	1.5¢	1.5¢	$68	4.553K

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No.	Vol.	Price($)
15	3705477	1.5¢

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Price($)	Vol.	No.
1.6¢	421949	4

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No.	Vol.	Price($)
15	3705477	0.015
3	424285	0.014
6	1003961	0.013
4	700000	0.012
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Price($)	Vol.	No.
0.016	421949	4
0.017	1047611	4
0.018	902828	3
0.019	2051315	7
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Ann: Half Yearly Report and Accounts, page-55

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Ann: Half Yearly Report and Accounts, page-55

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