""The recent vape pen crisis in North America and subsequent changing regulatory requirements for vape pens has required Mabsut to review their product lines and target markets. Even though this is a non-core business and supply agreement for the MGC Pharma operation, the Company will continue to supply Mabsut on commercial terms that deliver a material financial benefit to the Company.""
This was what caused me concern for shareholders, it seems like MGC management/Mabsut might be setting up to use this as a reason to abandon the agreement.
Either way, the agreement never got close to MGC's estimation of excess of $1m revenue/year. Despite receiving their GMP license on 13 July 2018 giving them legal authority to supply Mabsut there wasn't even any supply orders to Mabsut in the September 2018 quarter, December 2018 quarter or March 2019 quarter. That's 9 months of operations...
So many holes in just this "supply agreement" alone.
""The recent vape pen crisis in North America and subsequent...
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Last
38.0¢ |
Change
-0.015(3.80%) |
Mkt cap ! $17.20M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 39.5¢ | 38.0¢ | $2.163K | 5.582K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4763 | 38.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.5¢ | 52 | 1 |
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| Last trade - 15.42pm 08/05/2024 (20 minute delay) ? |
| RGT (ASX) Chart |