In the current environment a cashed up, low cap, tightly held, agile company like MZM should be moving quickly and cleaning up and so it is frustrating for investors to see it drifting aimlessly and going backwards for several years now.
By way of just one example, two weeks ago, in the space of 48 hours SCU ran from $0.013 to a high of $1.08 on news that they were simply seeking opportunities in the cannabis market. Damn, why couldn't that be us.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01838600
Our management team have other business interests including cross directorships in other companies and so I suspect that their attention is not focused purely on MZM.
I am not picking on these guys because its not uncommon to have cross directorships, but in situations like this, when a project comes across their desks, how do they decide which of their companies to put it into. Which of the companies get their priority? Its a serious question that I have.
Management invest MZM funds into directors other companies and I ask why those other companies don't also invest back into MZM, particularly since MZM are trading below asset backing?
It shouldn't take a highly paid management team to manage a portfolio of half a dozen stocks as I think a part time bookkeeper could probably do that. Invest a few dollars to employ a good cannabis research scientist and we would hit a dollar in an instant.
Just thinking out loud, what's the answer guys?
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