For me, there is definitely a change of "tone" in this quarterly...

For me, there is definitely a change of "tone" in this quarterly compared to any of the previous reports (quarterly/half-yearly/annual). Whether it's because of all the complaints to the company about comms, or ASX's treatment of the company, or they are simply re-aligning to the new strategic direction(s), or a combination of all of these...whatever it is, very refreshing to see the willingness to include as much detail as they possibly could at the current stage.

I like the fact that they haven't used this report to communicate to shareholders this change in their "tone"/transparency by releasing it prior to the AGM and gather as many votes as possible, but instead the Chairman verbally acknowledged the problem first, committed to better comms in the AGM, and then back the claim by releasing the report after the voting process. May be I'm too delusional, and possibly the company didn't care to use the report to gather more votes as they already have a noticeable majority anyways....whatever the case is, refreshing to see Rosen saying it, and then immediately followed by this report.

In my view, the "BEST" (yes caps, and quotes) thing that the company did in the AGM today is let Rosen run the show. I have nothing against Mr. Gu, and I'm sure he is great person and scientist, and it's not unusual for the chair to run the AGM, but it's really good is to see Rosen putting his credibility behind what he is saying and confidently affirming that this still is a good company (I felt that he wants to openly say this is not a scam, but stopped short of it), all directors take their fiduciary duties seriously and he'll do his best to improve comms.

Yes, most of the meeting felt scripted and rushed; Rosen might've dodged a question or two, but overall he did a great job, including the Q&A at the end. I don't think a person of his background would say all the things he said today, if he has any doubt that the company is under water or about to sink soon. Is monsoon the new PR company he is talking about?...those guys should be replaced, did bugger all since coming onboard and were very vague on the phone too.

As expected, all resolutions went thru without much resistance...all the negativity (no offence to anyone voted yes or no) here on HC and overall accounted to a max of 20mil shares only. To me, that gives an indication of the control of the registry after we resume trading...that's what I ultimately care about. Fingers crossed, this is the last extension and we are live again on the 18th so that anyone who is suffering can exit and others who are hopeful after reading the announcement can cling on hoping for a better future. I won't be surprised if the MJV is signed and announced well before we resume trading, now that they got the green light from ASX about clauses 11.1.2 and 11.1.3....I reckon it's VeganBurg stuff, but setup in such a way that they could scale-up to other stores in the near future; they dropped some hints in the Sea grape harvesting section of the quarterly, moving from research facility into a production facility.

All is not rosy though with the numbers...I'm happy with the revenue figures, but the cash bleed on the Lantene side is obvious. They took a new loan (net 800k, so not too big), likely to purchase equipment and/or stockpile inventory, but it's obvious a cash injection is needed soon (hence the big raise) to pump into Lantene, the new MJV and Hemp side too. If Tribeca are onboard, I'm sure they would've done enough research to see the growth path. Ideally like to see a cornerstone investment from them in the raise.

Good to see quarterly out on time...Rosen is right...while they used ASX provided reliefs and extensions, show up on the last minute of the last date...but they haven't missed major deadlines when it comes to financial reporting. Possibly since Lantene is onboard, it's a complex show behind the scenes mixing numbers from multiple jurisdictions, at least for a $15mil mc company.

We await further on how this plays out! All of the above noticed things could very well be a trap too, to sell another story in-time for the new raise, so please DYOR and above all is in my personal opinion only.