I’m not hopeful of a positive outcome (statistics on successful...

I’m not hopeful of a positive outcome (statistics on successful VAs are very low) but I guess it was always a binary play when buying into this company.

In saying this, unless there’s more than meets the eye, I’d be surprised if a party wouldn’t be willing to buy into this at a discounted price. Assuming initial engagement with the TGA goes / went well, they‘re likely only 12 months from exclusively entering the estimated $230m p.a. Aus OTC CBD, not to mention Aquaphase licensing and prescription CBD sales which would surely bring this to profitability. The purchase price of Aquaphase and stock on hand alone almost makes up the current enterprise value and there cant be many more creditors than suppliers / employees currently.

Although money talks and I’m starting to wonder whether we’re in this position because there IS more than meets the eye that our sophisticated investors get visibility over. In the instance there is no interest in commercialising Aquaphase, sales have been slow and engagement with TGA to date has been poor, this is doomed and I would almost argue management has been misleading.