"• Revenue for Q3 FY22 of $69k, a decrease of 69% on the previous quarter ($226k)and 75% on the prior corresponding period (pcp). The reduction in revenue was expected as we finalised the transition from bulk sales to the new Grass Roots brand." Quarterly Activity Summary, Quarterly Report of 31 March 2022.
I cannot understand how any company can justify two poor quarters of revenue decline as an expected result of a change of business model. IMO it comes across as though CGB just pulled the pin on supplying their current range of products to customers and moved their focus to their yet again new product range.
Neil, your optimistic outlook of CGB and of what the future could hold for this company (if all their business plans come together), smacks of someone who has invested a large sum of cash hoping for a short term trade that didn't go to plan and left you holding a smaller bag.
I just flicked a cigarette out my front door and it hit me. I should go into the firework business because I liked the way it sparkled when it hit the ground.
Cheers Finn
CGB Price at posting:
2.8¢ Sentiment: Sell Disclosure: Not Held
