Thanks for the update Andrew.Personally, I don't think the...

First 317 Last

Share
Profile

Follow
Klue

7,077 Posts.

439

10/04/22

19:56

Post #: 60770141
Share

Originally posted by AndrewChapmanReal: ↑

Hi All,

The reality in this deal like a lot of others, is that things HAVE been delayed due to Covid. We had delays with the Macedonian government issuing the relevant licenses and delays with the German government inspecting the facility - this was rescheduled 5 times between March 2020 to when it recently happened, we've had shut downs, travel restrictions, personnel issues and changes, COVID cases, run out of money a few times etc etc. I acknowledge that we could have make more money elsewhere as one of you shareholders pointed out to me recently (which I obviously know) but at the time when 1PG was going to zero, this was the path all shareholders chose - so here we are. We (the Directors) have put our personal money into the company to keep it alive these last two years for the benefit of ALL shareholders and as a result the company is now in a position to move forward.

We have all licenses and facilities in place for the production, transportation, storage, export, import and distribution of medical grade cannabis oil and flower. We are one of the only fully operational EU (German) GMP certified grow facilities in the world that can produce flower and extract product at a competitive price in volume. As we now have a great company and with the first sale of flower and extract into Germany imminent, we are confident that the value inflection point is close and will update shareholders in due course and as information comes to hand.

Shortly you will be asked to vote on us converting the debt to equity in order to get the company ready for the next stage which will hopefully be a liquidity event in the medium term thereafter.

Should anyone have any queries, please feel free to call.

Regards,
Andrew.

Expand

Thanks for the update Andrew.

Personally, I don't think the majority here have any issue with the way this has turned out. The acquisition seemed smart, it just wasn't to be at the time.
What has been lacking was an update like this earlier, or something each 6mths etc. As you say, run out of money twice, a debt to equity is coming, so we have, and still will, suffer some serious dilution while only being told little.

We are small fry, you guys have taken all the risk obviously by providing funding to an uncertain future, so thanks for keeping the dream alive for us.

1PG Price at posting: 16.5¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

NAB

NAB dips 1.8% as ASIC take bank to court for ignoring hardship applications

RAD

Smallcap Radiopharm notches +12% jump on pancreatic cancer imaging win

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

ESR

Estrella's exploration model in Timor-Leste pays off with 2 new manganese discoveries

There are more pages in this discussion • 121 more messages in this thread...

First 317 Last

Add 1PG (ASX) to my watchlist

Thanks for the update Andrew.Personally, I don't think the...

Top Stories

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

NAB dips 1.8% as ASIC take bank to court for ignoring hardship applications

Smallcap Radiopharm notches +12% jump on pancreatic cancer imaging win

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Estrella's exploration model in Timor-Leste pays off with 2 new manganese discoveries

Featured News