Hi
@changle ,
They have immediate liabilities (bills), taxes, trade payables, leases, etc. All companies carry "Current liabilities". There was also an error on the CGB 'Nett cash' line in my chart. It should show
$5,813,605 not $5,777,605.
FOLLOWING ON .....
Following on from my last post, which shows 14 - 16 companies running on or close to running on fumes, CGB may have shielded itself a little from the financial disaster some of these other companies "may be" facing heading into 2023.
CGB started a little earlier than many of the Cannabis companies, and by removing their manufacturing/processing facility in favour of packaging and arranging for French seed to be imported, possibly cheaper than shipping and storage of seed of all their seed from Tasmania, may have saved the company from financial ruin in the long term, as well as stopping the payment of contracting fees to hemp farmers and moving to a direct seed purchase for raw stock.
View attachment 4655407An observation: It appears that most of the ASX Cannabis players who are hemp players have also moved away/are moving away from hemp operations in mainland Australia. I have noticed that when visiting Coles and Woolworths, the hemp hearts and flour/protein seem to come from New Zealand.
CANNTAB
Moving forward, CGB needs to get this CannTab importation debacle sorted out ASAP, and they need to engage a specialist firm in pharmaceutical marketing to assist them with getting the product out rather than hiring another in-house person. Short-term contracts vs full wage/super etc.
The tablets work, from my experience, so there are opportunities ahead if they can devote the right balance of resources vs import orders to sales to bring in these products.
IMO, they bought too much in with their first order without having guarantees of uptake and sales from doctors etc ready to release the tablets. The batch expiry dates are usually 6 months on these pharmaceuticals, which require re-testing to extend batch dates.
FUSSPOT
Hemp Cosmeceuticals are becoming top sellers in stores that promote hemp products in Australia. For nearly six months, hemp hand lotion and facial creams have been on Body Shop's top seller list at No#1. Their hemp lotions are from France, so are ours. We have some quality products here.
View attachment 4655419View attachment 4655422View attachment 4655425VITAHEMP & GRASSROOTS
As someone mentioned earlier this week. The company needs to be even more aggressive and really drive its marketing team into action, including using SM influencers to promote their products to the Australian market. If they are doing that already, then they need to update their investors.
The packaging is quality, and it's obvious by both the designs and look of the Grassroots and fusspot range that focus groups were involved in the product design. We carry both Organic and non-organic products in both ranges. The company also needs to engage its investors more and send out more of those newsletters. 4 of us here bought the products immediately.
CGB...if your Investors are engaged, they will promote and buy your products!View attachment 4655446View attachment 4655449
