ArtemiC has only come into the picture a few months ago, their research and business model has been pretty much around medicinal cannabis since 2015 - but yes, perhaps I should have rephrased my statement.
What makes you believe the OnixCann deal hasn't proceeded? The announcement stated:
"MGC Pharma and ONIX have agreed and executed a binding amendment to the Original Agreement which now establishes minimum orders for the distribution of MGC Pharma’s products by ONIX for a minimum period of seven years (the ‘Amended Agreement’
"."The Amended Agreement, further details of which are set out below, will immediately strengthen the Company’s operating cashflows. In the first 12 months following execution of the Amended Agreement, ONIX are to purchase a minimum of 20,000 units from MGC Pharma, with an order value of at least ~A$1.65m. A down payment of ~A$107,000 (€65,000) is immediately payable upon ONIX executing the Amended Agreement, which is part payment of the first 4,000 units purchase order totalling~A$330,000 (€200,000)".Malta? I myself would be interested in knowing how much of the raised funds specifically for Malta have gone towards the project. My understanding is MGC have completed works such as clearing the land, completing architectural and GMP designs, and have obtained the relevant approvals. They claim that 'the company will initiate construction works once it completes the listing in the UK', so we'll see what happens.
CannaGlobal? Fair call, but given we cannot see the financials/assets of CannaGlobal, is there any concrete evidence to back that claim? Will be interesting to see what happens with CannaGlobal following their three-way merger and public listing planned within the next few months.
Your correct, companies are going broke and cracks are beginning to show within the industry.
Survival of the fittest - time will tell won't it. The risk we all take when investing in speculative penny stocks whom still aren't cash flow positive.
@
TheMonsta as for your post i.e. cost of sales.
MGC have made (repeatedly) the bold statement that we will see a positive cash flow by 2021, based on our current deals and growth rate of prescriptions, so no I'm not currently alarmed. If we do not see a positive cash flow by early 2021 - then the alarm bells will kick in.
(20min delay)