CGB 0.00% 2.1¢ cann global limited

Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-87

  1. 2,133 Posts.
    lightbulb Created with Sketch. 592
    "In my opinion, this is obfuscation ... nothing more ... nothing less. I find that many of the recent posts are becoming so obscure that I find them to be incomprehensible."

    Likewise - I share your opinion there Bas.
    Absolutely no effort either to analyse/discuss the more recent activities of the company after the request to leave the past in the past by that individual.
    The obfuscation is an effort to redirect conversation away from what is current and should be under scrutiny to the extent that the writer still appears to be in the pocket of a company that is regressing week by week and unable to produce revenue of anything more than $69k in three months.
    Indeed, I wouldn't be in the least bit surprised that 90% of those earnings came in for January and virtually nothing over the following two months.

    How many countries are the claiming to operate in ? 4,5,6 ?
    Let's be generous and say just 3 countries.
    That's $13k per country
    Per month, that's $4,300
    Per week, they take in $1,080 - from a whole country !

    Then we have this nugget from the recent half-year report - released on 28 Feb 2022

    "In October Cann Global completed a $1.8m share placement to sophisticated professional
    investors introduced through 180 Markets. We are pleased to welcome these investors to the
    register through this well supported placement which ensures our balance sheet is in the best
    possible position
    to support the launch of our new products andour efforts to drive growth
    in these revenue streams
    .
    "

    Well excuse me for breaking wind on reading that piece.
    So they got an extra $1,800,000 at the end of October 2021
    They already had $10,385,510 (total to end Dec '21) - $1,800,000 (180Mkts screw) = $8,585,510

    They didn't need any money to launch anything !

    Ok, so they got even more money in October.
    Let's ignore the following two months as a 'settling-in' period for this supportive new money.
    Jan, Feb, March income ? Yup, $69,000 !!

    "• Net loss of $2.4m is 19% higher than pcp and includes the one-off liability payment to Mrs
    Pnina Feldman who retired as Executive Chair during the period
    • Excluding the liability to Mrs Feldman the net loss would have been on par with pcp despite
    the decrease in revenue, as this was largely offset by reduced expenses"

    Now, excuse me and everyone else for missing this nugget that they have reported in this legaldocument that part of the cash loss is attributed to a liability payment to Mrs Pnina Feldman

    The Ordinary Resolution for the AGM in January passed a motion for her to be given a quantity of Shares

    There was never any liability there anyway and if anything, it is she who would owe the company recompense for that immediate withdrawl of services which would have had to be replaced to enable this Global entitity to continue operations with such vital support.

    So did she get both shares and cash ?
    There is no doubt that this is what the company (as signed by David Austin) have reported to the ASX.

    Is it any wonder that shareholders and the ASX would ask the company for further information ?

 
watchlist Created with Sketch. Add CGB (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.