OK - I am struggling to see the value here.The Cronos Australia...

OK - I am struggling to see the value here.

The Cronos Australia prospectus lists an "asset-light" business as being the strength of this organisation.
In reality, there is no business here - it is a farce.
They plan to import Mile High Labs (generic CBD oil) and sell it to Australian patients under the Special Access Scheme.

REALITY CHECK

CAU have never brought a single cannabis product in to Australia
CAU have never made single dollar (Pre-revenue company)
CAU have a cultivation and manufacturing license for a now defunct facility in Daylesford which they are not intending on using
CAU have no credible cannabis-industry executives
CAU have zero patents lodged with IP-Australia
CAU have zero land ownership, zero facilities and zero assets (this is not asset-light but asset-deplete)

It is a farce and an abomination that this company raised $20M and a post-money val of $64M

This will undoubtedly deflate to an EV of $0 so a market cap of $20M which is the amount of cash they raised from gullible, (un)sophisticated investors.

CAU is not only late to the party, they have attended the wrong party.....