Footmax. Good on you for reading in so much positivity into MXC future prospects. I guess you have to given that you are donkey deep into its shares!You may have thought that it could not happen twice but it appears that there is a history of over promising by a particular person on the MXC board when in a senior position with other listed securities that have eventually failed. One thing that I think we all have been guilty of is taking statements at face value on the basis that if its an official ann then it must have integrity.
I for one totally disagree that naysayers should not be involved in these discussion groups. I look back over the VC deal and note that when the integrity of the VC deal was being questioned by the learner he/she was disingenuously attacked personally by 99% of posters. Sometimes it the lone voice that does not follow the rest of the sheep that comes out on top. That's a lesson in taking account of an opposite view or questioning something after researching it. As long as it is kept constructive we need the naysayers to help us question our own decisions. If not we will continue to only believe our own rhetoric with predictable negative outcomes.
1. Cannaglobal might be a real company but as yet totally unproven. Its an aggregator of cannabis related businesses and a marketing business. Do we know where its getting its funding from to buy these businesses or are they all going to sell for some ethereal placement of shares in CG. Its a big risk. Nothing is tangible yet until it starts to make money or is floated on the market. If MGC derma is losing 2 to 3 million a year what makes you think that this values up CG positively. Do we know what the other 5 companies are worth or maybe they are loss makers as well?
2. The statement says that C$500k has been transferred. Where to? Why not just say received?
3. when you combine the overly generous salaries and a massive amount of shares issued to management, with the lack of clarity of information to S/H's and deals that have fallen over, unprofessional public spats on facebook and involvement in failed companies, you have to question the integrity and motivations of key people in the company.
One of the positives I do see at the moment is that unless they can start to perform and drive the SP up then all the performance shares issued to management will not be worth much. I'm going to be spitting blood if further performance shares are issued when the SP is where it is now.
Someone here following these threads surely must be planning on attending the AGM? If interested I would be happy to construct a list of questions to be put to the board.
