Sorry guys i am out.
After watching Channel 7 and seeing AK behave i don't want anything to do with this guy. Also having a police record he won't be able to be a director of a public company and i have a doubt that he will be able to get a medicinal cannabis licence. (From ODC Site:
All applicants for licences under the Medicinal Cannabis framework will be subject to regulations. These regulations include detail on the 'fit and proper person' test, which involves consideration of the applicant's criminal history, financial viability, business history and capacity to comply with licensing requirements.)
Todays announcement was really a joke. NO IPO will happen. If it does it won't be what anyone is thinking. If and i repeat IF an IPO proceeds we will and the rest of Australia will be able to take stock through the normal process. It it lists whatever it forms into be if they are lucky it will be $20m-$30m thats if they can actually raise $5m+and they would need to have a licence from ODC and proof of revenue (over $5m) from the HEMP. I doubt either let alone both will happen.
No instos will be touching this company and will run away from AK.
Its a pity I and probably many many others have lost a lot of money in QBL. Sadly there will be plenty more.
Why and how the ASX allow companies to get away with misleading statements.
Good luck to the remaining QBL shareholders hopefully you don't lose too much more money. Its probably better to sell your QBL shares when you can and put it directly into MDL if and when it lists then to stay in QBL and maybe maybe have something in something in something.
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I've sold and moving on (all IMO)
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