Everything in this post can be be verified by reading publicly disclosed information.Creso has an "interesting" model. The number one shareholder is a guy called Adam Blumenthal. This guy is currently a non-executive Director of CPH. He also owns a private company called EverBlu. EverBlu has a highly conflicted "mandate" with CPH to perform an array of corporate advisory and marketing services. It is highly conflicted because of this common ownership with Adam Blumenthal
. This arrangement has seen EverBlu extract more more or less every single dollar of revenue CPH has generated since its inception (you can verify this through financial reports). Shareholders are left with massive losses and dilution form perpetual capital raises.
To top it off, Blumenthal was actually the Chairman of CPH until stepping aside late last year. He stepped down shortly after ASIC and the Federal Police executed a search warrant on both the offices of EverBlu and CPH for suspected share price manipulation by the company and its officers. Here is the confirmation, direct form CPH:
https://wcsecure.weblink.com.au/pdf/CPH/02457495.pdfI question the actions of the BOD to allow AB to keep his seat, but moreso to continue with the EverBlu relationship.
CPH generates a fraction of the revenue of HHI, runs massive losses, is currently insolvent without a massive capital raise and debts, which will make those of HHI appear immaterial. Somehow HHI is valued at around $2m, yet CPH has a market cap of over $60m - refer to the ASIC investigation above.
Oh and CPH, an insolvent company (curently in suspension performing a cap raise) trying to buy HHI (also an insolvent company, currently in a suspension performing a cap raise), is also trying to buy a third US private but also insolvent company in Sierra Sage Herbs (short-term liabilities cannot be met with disclosed expected revenue).
