Briefly, and then the latter.
So assuming the 59% in the ann is right and true... lets update the maths -
MMJ: Shares on issue = 212,590,000 (approx) -
https://www.marketindex.com.au/asx/mmj
MMJ @ $0.58 MC = AUD$123M (approx)
HVST: Shares on issue = 109,372,102 -
https://web.tmxmoney.com/quote.php?qm_symbol=hvst
@ $2.03, MC = CAD$222M (approx) = AUD$228 (where CAD$1 = AUD$1.03
If MMJ owns 59% (as stated in the announcement), that means the asset value of MMJ's HVST shares is AUD$134.5M.
Add the weed.me $2M, the ESE $750K -
MMJ asset value in investments is $137.25M
Cash on hand? Lets be unrealistically pessimistic and say its zero.
Seems the value of PTL is now AUD$ -14.25M (yep, that's a negative)
Can someone pay me $14M to take it off their hands?
TL;DR - The ASX is a freaking joke.
