IMO, we have to agree on a way forward first & then decide on who can take us there.
An EGM could be a starting point in preserving retail shareholders' equity and carving out a way forward, IMO.
That said, we still do not know the full picture of what happened, when it happened and why it happened? IMO, CLI's response above is far from being forthright and lacks credabilitity about how soon CLI knew when biomass had lost over 50% by weight & a rubbish 2% CBD.
Re: Atlas IMO, Atlas' chief risk is that CLI declares bankrupcy & the Atlas strategy will likely be to keep CLI alive and recover its debt with interest with minimal extra cash invested. The change of Co Secretary & the appointment of the new Farm manager was likely required by Atlas and that both will likely report to Atlas as well as to the CEO & Board, IMO, should CLI survive.
CLI Price at posting:
3.1¢ Sentiment: None Disclosure: Held
