Ann: Preliminary Final Report, page-58

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Ex Oyster farmer

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04/09/22

21:27

Post #: 63512161
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Originally posted by Aussie Eagle: ↑

"This may sound weird, but maybe all the criticism against this stock may have saved it, as the company has seriously tightened the belt."

Lol, why not put that suggestion to the BoD - I seriously doubt it would be received with agreement !

"Seriously tightened the belt" ?
How could one make such a statement when it's just been unearthed that they've contracted an external legal company to handle their court case for refusal to honour invoiced bills ?
To have both a solicitor AND a lawer whom is practiced in Commercial Litigation on the payroll - where is the prudence here on tightening the belt ?
No, this is just another show of irresponsibility spitting in the face of prior criticism, imo.

Look, the Facilitation Agreement with Medcan was for an initial 2-year contract, paid quarterly in cash or shares.

Once that 2yr period ended, the agreement rolled over with a termination clause of 30-days notice by either party.

So if CGB were unhappy with the Service, why didn't they find an alternative importer a long time ago rather than allow all this to drag on.

By the same token, Medcan could have terminated the agreement with the same notice period.
However, why would they do that when they've got a relationship with a Canadian manufacturer with potential to supply other Australian customers via their ODC licence ?

Sorry, but tightening the belt is rubbish imo.
Why pay someone for a product which you already have an abundance of, unless your existing product has major flaws and not worth keeping in your inventory ?

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The Feldmans have spent over $40,000.000 in shareholders monies,the last quarter equaled approx $80,000 dollars income,tightening the belt you say,tightening the belt?

CGB Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
5 Upvote

2 Great analysis

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Ann: Preliminary Final Report, page-58

Top Stories

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Immutep reports strong response rate from immunotherapies treating carcinomas

Almonty locks in govt agreement for tungsten oxide plant in South Korea

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BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

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