"While it is disappointing that Cann Global’s share price does not reflect the achievements within the business and the growth opportunities within the business"
Actually, I agree with @jcurve that the current SP does reflect the achievements within the business. From all available evidence (e.g. financial reports), achievement is, in my view, very, very limited. I think that's the idea of the market to value a share of a public company. Any amount of spin in a "letter to shareholders" will not alter that simple fact.
I struggled with this paragraph from the announcement issued today.
"Australian Gemstone Mining P/L, controlled by Ms Feldman, had until 30 August 2021, provided management services to Cann Global, including office administration, accounting, secretarial and geological staff and also included the executive services of Ms Pnina Feldman and Mr Sholom Feldman to Cann Global, via a management services agreement. Salaries were not paid directly by Cann Global to Ms Feldman or Mr Feldman or to any of the AGM staff other than the payments made to AGM P/L for their services."
If, I am reading that para correctly as well as the information from the 2019 Annual report, the funds were never "paid directly" from CGB to either of the Feldmans. Instead, CGB paid AGMPL an entity controlled by Ms Feldman.
On the basis of that statement, and if I were a holder, my first question in the "virtual meeting" would be (given the facts noted below) as below.
Q. Can the Chair please reconcile the statement made in the letter issued today (18 January 2022). Specifically, that "Salaries were not paid directly by Cann Global to Ms Feldman or Mr Feldman" with the accounts noted that can be found on pages 15 and 16 in the 2019 Annual Report to Sharehlders?
1. Page 15 (2019 Annual Report)
In 2019 AGMPL received the sum of $1,806,807.00 from CGB.
That sum of $1,806, 807.00 is broken into several components.
A sum of $624,000 was listed against, "Executive and corporate services". If you divide that sum by 2, the result is $312,000. That seems to be a reasonably common figure.
2. Page 16 (2019 Annual Report)
Pnina Feldman was paid $312,000 Sholom Feldman was paid $312,000 Meyer Guttnick was paid $70,000 David Austin was paid $20,000
Q. Can the Chair reconcile the statement made in the letter issued today (18 January 2022), "Salaries were not paid directly by Cann Global to Ms Feldman or Mr Feldman" against the accounts noted on pages 15 and 16 in the 2019 Annual Report?
it might prove helpful to clear that up in light of what was noted today ... I think.
