Seriously - anyone that can continues to defend the current direction of CGB is either willfully ignoring the published financial data or, incapable of making some basic assessment of that data.
Quarterly Report Data (29 April 2021)YTD corporate and administration costs = $1,839,000.00
YTD Net cash from / (used in) operating activities total = $2,537,000
So ... of all of the expenditure on operating activities (YTD)
~73% of that is spent on corporate and administration costs.
In the current quarter the 'corporate and administration' costs was twice that received in cash from customers.
So ... that equates to
every $1 received from customers -
they then spent $2 on corporate and administration costs. So where did the additional dollar come from ... yep ... where else?
Staggering. Absolutely staggering.
And only $190,000 spent on related parties - very restrained indeed.
Where is the sober assessment of the data that was promised by a certain poster? I seem to recall a particular poster advised the thread that they would only reappear on the CGB thread to comment on financial information when that data was published. Looks like that poster is ... MIA. Not surprising and completely understandable though ... it is very, very difficult to
spin a 57% reduction in total revenue while spending up on corporate and administration costs.
"...
has resulted in total revenue for the quarter falling 57% on the previous quarter and being down 36% on the prior corresponding quarter." (my bold)
And the report commences with this under 'Key Highlights';
"...
due to unexpected shipping delays and logistics challenges within Asia and orders delayed as a result of the Lunar Holidays which has impacted March quarter export revenue." (my bold)
1. Shipping delays - yawn (because only CGB suffer shipping delays).
2. Logistical challenges - why are all of those dollars that are expended on corporate and administration for ... if not to solve logistical issues? Is the resident geologist not able to solve shipping and logistical challenges?
3. Lunar holidays - I don't even know what to say to that dross. Are there no lunar events next month / quarter? Hilarious - if it didn't involve other peoples capital.
And the report concludes with this under 'Outlook';
"
Cann Global continues to have a strong debt-free balance sheet, and significant cash reserves which not only supports current business activities" (my bold)
From my perspective - current business activities seems largely confined to "corporate and administration" activities.
Now ... was there a sentence or 2 in the report alluding to or, implying better results next quarter?
Yep ... there it is;
"
With the Lunar holiday now over and a campaign underway with EPCO to further promote Cann Global’s products in Asia, the Company expects to return to revenue growth this current quarter."
Thank heavens the moon is taking a 'back seat' next quarter! But don't despair - they "expect" to return to revenue growth this current quarter.
Just have to wait and wait and wait and wait!
Fantastic
