"The footnotes are where all the juicy bits of information hide."
They've frequently put in footnotes that could easily be missed by any reader - but the fact is that they did actually put the notes there so they're covered in that respect, as unethical as it might appear.
For example, they once declared in a quarterly report (3-4 yrs ago) that certain monies would be declared as being 'loans' to entities which didn'r require shareholder approval. If one has a look at the 2020/2021 financials, there are loads of loans declared but not much evidence of them being repaid. In fact the list of loanees reduces without any notes as to why.
Soooo.... the last declared amount of cash in bank was around $8M and everyone wants to know how much of it is still there and how much interest has been earned on it. They put out the ann of change of auditor....never confirmed as yet, though we wouldn't see it as an ASX announcement due to being delisted. Nothing wrong with updating the website for info BUT...
Couple the shifting of monies out the door under that (test?) period which has been declared as 'loans' together with non-declaration of ANY financials (audited or otherwise) for at least 18 months, imo it doesn't paint a pretty picture insofaras conspiracy theories could be concerned.
Mars Mines being in bed with GMN as well as previously funding Buscar/Eon (California) with USD$500k means there's a LOT of money shifting around, especially when it's a fact that the Mars directors are common to CGB, AND they are both registered to the same office/address.
It's also a fact that one of the declared loans in the past was noted as being to a CGB Director ...make of that as you will. IMO, they'd been wayyyy overpaid as it was without needing a loan from CGB's coffers as opposed to getting a personal bank loan as most civilians do.
A previous situation involved 'where is the $10M?' - also covered by National Media.
This time around, it's obviously a lesser amount, but what were they going to do with it when by all accounts NONE of the subsidaries (10 ish) under the CGB umbrella have EVER turned a profit nevermind any income improvement of note - fact !
Imo, it's way past time that the Authorities step in.
CGB Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
