Whilst Althea are cleverly using the "trading halt" to prevent...

Whilst Althea are cleverly using the "trading halt" to prevent further bloodshed and selling down of their shares, when they come back on market today, there will naturally be a recurrence of what was happening before.

Aphria will continue to sell.

The funds investing because of Aphria (Halo effect) will continue to sell.

The true value of Althea without Aphria "big brother-ing" them, may actually be under $50m which could bring their stock price to under 20c.


ASSET CHECK

Land (leased) with no building in Frankston (<$1m)
ODC cultivation and manufacturing licenses on land (<$2m)
2200 patients acquired in Australia ($2.2m)
12 patients acquired in the UK ($12,000)
Peak facility in Canada ($5m)
Cash in Bank ($15m). (after paying for facility and debts)
Leased MyClinic UK ($<1m)
Recurrent income from sales ($0 as it currently sold for a loss)


So the true net tangible assets of the business are around $30m and this would equate to a stock price of around 15-20c.

Also the number of dilutive options and performance rights on issue to the executive team and to Greg Battersby make this company "unrescuable".

I think it's obvious why the Aphria accountants have decided to pack their bags and go home.