Pretty amusing to see this, considering they’d promised this new hi tech facility to be up and running by Q2 was it? And we’re expecting big revenue from it?
What’s also amusing to me out of everything is the cap raise. The 5 mil was saposed to go towards fitting out their own facility, now I’m just going to take a wild guess as to what that 5 mil will be spent on. QBL had a loss of over 5mil last year, with fees of over 1.7 mil to the Feldman’s privately owned company AGMPL, for ahh, management fees etc? On top of that the Feldman’s were paid something like 300k each in directors fees by QBL if I remember correctly. This 5mil spending was a massive % increase on the previous years spending, and I believe it’s fair of me to presume that this years spending will be a large % increase once again. So, there’s your cap raise. Tell the market and loyal holders your building a state of the art facility. Raise 5 mil for it. Ditch the facility and the Medcan acquisition that has kept the company in suspension for most of the year in favor of a MOU with biohealth, telling holders that it’s a better deal as the licenses Medcan needed were going to take years to get? Which is very new knowledge to me and many others I’m guessing. Then at the end of it you’ve got a pretty 5 mil in the bank, atleast there’s no stress about getting paid if you’re a CGB employee (or owner of AGMPL).
Now, I don’t believe I’ve said anything defamatory here, I’ve used publicy available information to make an assessment of the current situation, this assessment is just my opinion and should in no way be taken as fact or advice. If I’m wrong then please, report this post and it will get modded.
CGB Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held
