Let's examine the topic of importing for a moment and compare...

Let's examine the topic of importing for a moment and compare progress pre and post Beasley's chairmanship by looking through past ASX announcements.

The allowing of importation on a warehousing basis (rather than per patient) was announced by Greg Hunt on February 22, 2017. He noted that:

As a strategy, the importing model is a short-term one. Permits could be revoked once local supply is sufficient, according to Hunt's quote above. So, long term, the goal has to be becoming an efficient domestic supplier rather than relying on imports.

I could not find any mention of importation in the THC prospectus. Recall, this is Beasley's plan for his new board: to "execute the company's business plan as set out in the prospectus".

The first mention of importing is in the announcement of the strategic alliance with Phoenix Life Sciences on May 24, 2017. Beasley commented on this: "We expect this partnership to rapidly accelerate the development of THC's supply chain for importing medicinal cannabis products in Australia through Canndeo". What has come of this partnership? The last mention of it was the quarterly business review announcement on August 2. There website is a go daddy holding page.

Compare this with the announcement on February 28 this year advising of the approval to import medicinal cannabis products from its European partner, Endoca.

So the importing model that Beasley announced has only become possible through a distribution agreement signed by the new CEO and under the current chairman. What did Beasley deliver during his time?

As to the SP dropping, I would put that down to uncertainty about the upcoming EGM.

Disclosure: I am a potential (but not current) subcontractor to a contractor of THC once local production is operational. The views in this post are my own and not those of any employer or client.