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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-132

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jelly78

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24/08/21

11:44

Post #: 55524588
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Originally posted by buddi: ↑

Thanks for your efforts @possum_30 and @Protagonist, very much appreciated.

I've also been told that COVID impacted their business, but when I challenged why they reported "There has not been to date any significant impact of COVID-19 on SCU’s operations and business activities" in the quarterly statement, there was no proper answer.

If there is an impact because of COVID or other issues such as seasonality of the revenues, they have to explain that properly. By not providing proper reasons on why the revenue dropped, and by issuing contradicting statements on COVID the market has implied worst case that the revenue uplift reported in Jan was one-off or fluke and punishing the company accordingly. Right now the company might think they have cash and the sentiment will fully turn around when they make progress in the hemp space, but they can't sit in a glass box and show a lack of care towards shareholders as it'll push the company beyond a point of no return.

The fact that some brokers are offering shorts on a $15mil mc company is an indication of the current market sentiment. This is the first time in the last 3 yrs a short position is offered/opened on the company...it's a very small position mind you, but it's unusual to offer shorts at this end of the market.

View attachment 3510698

Hope is not a strategy, but I hope that all the noise we made would lead to better reporting and transparency in the future, I believe that's what the market is looking for at this stage. I took a position in the company as I felt that they turned around a corner with the recent acquisitions, and the new people/advisors they onboarded. I still think there is a good future for the company, especially in the carbon credits space combined with the growing sustainable foods sector, but they got to run the company like a public company if they want to grow.

All IMO, please DYOR.

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So I was right about covid impacting their businesses. Hopeless.. I am not so sure investing in companies where they have no idea is a good thing. Surely if they mentioned covid impacting their business then markets would factor in the smaller revenue.. I am not sure how they screwed that one up. Its a no brainer I am sorry to say.

SCU Price at posting: 1.4¢ Sentiment: None Disclosure: Held
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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-132

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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-132

Top Stories

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