Australia's largest stock trading and investment forum Australia's #1 stock forum

CGB

0.00%

2.1¢ cann global limited

Which rabbit hole? I'm sure the major shareholders have many.

First 2 Last

Share
Profile

Follow
Tahora

1,055 Posts.

182

22/01/23

15:19

Post #: 65818260
Share

Originally posted by Aussie Eagle: ↑

From the 'Sinking Ship thread....

"This agreement and the initial investment into the company allows us to tap into the wealth of resources available via MML in order to move forward aggressively with the Treasure Canyon project"So that's from Buscar Company's president on the deal with Sholom Feldman's Mars Mines Limited which as we know is registered at the same address as 'his' CGB
They've (Buscar) since merged with Eon Discovery Inc.

The first thing to figure on is how have MML shown that they have a "wealth of resources available" ?
We've only recently found out they existed...so I made a new thread (this one) for MML/Buscar/Eon.

As much as CGB are looking like a Sinking Ship - the Feldmans & Co have always somehow survived on funding - so what's up the sleeve or down the rabbit-hole this time ??

Continued....

The financials show that CGB are essentially a failure in their new endeavour over the past few years - there's no denying that sadly, with the latest quarterly only showing $54,000 revenue.
Shareholder investment that got them on the track to becoming a new business has all but been destroyed.
YET, they've somehow managed to hold on to $8.6million cash as of the last report.

In the Yahoo article alluding to MML having a wealth of resources to tap into might only mean 'personnel' resources - hoewever, they were able to come up with $500k to get into Buscar/Eon.

Currently we have this endlessly extended suspension for a 'Proposed Acquisition' - all seeming a bit too clandestine for normal activity imo.
Of course there'll be confidential aspects to it but for it to drag on this long, once again tying up shareholders access to their own 'investment' (just as they did in 2018/19) - but this time it's absolute silence !

So, cutting to the chase....
The Feldman's made a LOT of money from their Privately Owned AGMPL via CGB and other entities such as the former QBL.

Pretty sure AGMPL are folded now though there is a Discretionary Trust called AGMP but it's not registered for GST so it wouldn't have the same status.
Sholom Feldman no longer gets paid via AGMPL - he's on salary.

To draw a comparison, MML - Mars Mines Ltd are also privately owned, limited by shares held by the owners obviously, which shares the same business address as CGB.

I think you know what I'm getting at here so just in case, I'll stop at that.
Suffice to say, it's not (imo) unreasonable to consider that this proposed acquisition might be very, very close to home.

Let's see if there's anything down the rabbit-hole when the quarterly is released at the end of the month.

Expand

Which rabbit hole? I'm sure the major shareholders have many.

CGB Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

IRE

Iress runs 'hot' for Wealth Within's stock tips

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

LU7

Strong PFS numbers solidify Lithium Universe's big plans for Québec

Failure to report prompts ASX to impose multiple company suspensions