The problem is the "long-term"... let's look at the PANAX timeline...
Column 1 Column 2 Column 3 Column 4 Column 5 0 27/04/2016 MXC to Acquire Licensed European Medical Cannabis Company 4
Column 1 Column 2 Column 3 Column 4 Column 5 0 10/05/2016 ASX Approval of Panax Transaction and Capital Raising Update 2
Column 1 Column 2 Column 3 Column 4 Column 5 0 15/06/2016 MXC's First Crops Planted at European CBD Production Farm 3
Panax gets a mention in the 15/06/16 announcement still continuing due diligence and some crops planted (but, did we ever hear about these crops? what happened to them? what was the CBD/THC yield? etc)
Column 1 Column 2 Column 3 Column 4 Column 5 0 15/12/2016 New Panax Acquisition Agreement Signed, Settlement Imminent 4
Oh shit.. still haven't completed due diligence.. let's announce a new agreement signed and settlement within weeks! umm.. 6 weeks have pasted :-(
I sold out as I don't have faith and after digging around to find out more about PANAX the company..
Here you go:
http://rejstrik.penize.cz/ares/02880962-panax-pharma-s-r-o
Incorporated in 2014; seems to have two main people and then I did a street view on the address "Praha - Nové Město, Ve Smečkách 1258/6, PSČ 11000" lovely shot of a shitty looking building that doesn't look like a growth facility to me. I'm also very perplexed why such a small takeover is taking so long to complete due diligence. I've seen billion-dollar takeovers take less time in DD.
Anyway, this is my own research - DYOR. I'm happy with my sellout and i'll now watch from the sidelines to see if I should eat my words
GLTAH!
