AC8 0.00% 4.0¢ auscann group holdings ltd

unfortunately this company was never a winner not at least...

  1. 112 Posts.
    lightbulb Created with Sketch. 43
    unfortunately this company was never a winner not at least fundamentally anyway. It had some licences early on but was mainly mismanaged from early on (but to be fair - the whole sector was the same the world over) and if you missed the selling window in the cannabis boom back in 2019 then its been bad times since then. Management and Directors have all since then tried hard to complete transactions in good faith in the hope that something might just get the market interested but when the Cannabis ETF (MSOS) in the US goes down for 900 days straight every single day, momentum in the sector is clearly against you. This is why the worlds largest Cannabis company Canopy were prepared to sell me 15% of the company at a 50% discount (Canopy went from $20B market cap then to $500m today so about a 95% drop).

    Director fees to be honest, in this end of the market aren't worth the risk and I would welcome any shareholder to put their name in the hat and send me an email with your resume, your holdings and the reason why you should be a Director. I'll go through all the risks and the (skinny) rewards with you honestly and directly and if you still want to be a Director, can handle the risk, have the skin the game and the skills required on the board to get deals done and understand the environment, then I'll be the first to endorse you!
 
watchlist Created with Sketch. Add AC8 (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.