What is more amazing than the speed at which this stock is deflating is the fact that in spite of all the evidence to suggest this company has no visible markers of value, the few hardcore people who are still advocating "Buy" on it.
Auscann's one and only patent was shown to be lapsed (Presumable was intending to be for the Hard Shell Capsule formulation):
http://pericles.ipaustralia.gov.au/ols/auspat/applicationDetails.do?applicationNo=2018902782
In summary, they have no defendable Intellectual Property
Auscann have only just started to build their manufacturing facility (He stupidly allowed a photograph to be taken of an empty warehouse shell when claiming he will have Hard Shell Capsules ready in late 2019!):
In summary, there is 12 months plus to construct the facility, another 6-12 months to get GMP another 12 months of pre-clinical trials and another 1-2 years of clinical trials. They are 3-4 years off having anything!
I am happy to hold long term as they have plenty of cash in the bank and the burn rate isn't so high. However, they failed to get their Hard Shell Capsules out in H1 2019 as promised late last year:
And now that they RECONFIRMED that they will have the capsules ready in H2 2019:
When these inevitably don't arrive in the last 75 days of 2019, then Auscann's stock price could get slaughtered and I may be the bag holder!
Death by a thousand cuts......
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