Too right
@millimouse !
If particular attention is paid towards the last quarterly report of 29 Jan which was a Friday morning 10:52AM. Within this report, they quote "As at 31 December the Company had a very healthy cash balance of $12.4m" !!!
Four days later (TWO Business Days) on the Tuesday night at 8PM !! they put out a proposal to issue another 3million shares to pay what amounts to admin costs of $26,250 !!
Equivalent value of those shares being $0.009 which has been/is the current sp for the past few weeks.
The first insult to shareholders is the declaration that having over $12M in the coffers has us in a very healthy cash position.
The second is to make this announcement at a time of night when they hoped it would fly well under the radar.
The third insult is to dilute shareholders even more by an unnecessary issue - small-tiny (in relative terms) as it is...
They throw responsible ethics out the window consistently and it's no wonder the sp has been languishing where it is whilst declaring CGB to be a 'Global' company without bringing home any new revenue-bearing contracts month-after-month....
Even the Costco order for example is 3 bottles of chia oil capsules which Costco sell for $50 with FREE DELIVERY... Where is there any profit in that for CGB ? $5 per order ? probably closer to $1...
Its time they pulled the finger out ..
