‘Rank & file’ MXC holders are naïve to think that ‘we’ the...

‘Rank & file’ MXC holders are naïve to think that ‘we’ the shareholders have any say whatsoever. If you go to page 78 of the annual report you’ll see that a mere 1,831 shareholders out of a total of 13,992, hold 73.85% of the shares and a vast majority of them are ‘company’ connected. Large companies like Telstra have multiple super funds that invest and hold the majority of shares. It is only when those large investors club together that changes and board ‘spills’ are possible. In reality minor holders have little say or pull at all. They are towed along with the share price tide as it ebbs in and out.

‘The learner’ is quite correct. No sign of Cannaglobal on Lorne Gertner’s Cannatech profile. You don’t need to be very smart to realize that the deal with MXC was done well after the Cannatech site went live with LG ‘s profile. Posters ignoring your observation were more than justified. Unlike what you claim to do, some posters here actually do their bona fide research rather than rely on their “sensitive BS radar”.

Am I disappointed in the recent events? - Absolutely. I have a big investment here. With combined holdings I am #2 holder in MXCOD and #14 in MXC. Am I overtly surprised by the public venting? - No! There was obviously a conflict of interest and a growing concern about the direction the company was taking and that finally came to a head. Ultimately it will be resolved, one way or another. I remain convinced that MXC has a great future in the global MC market. It has the potential to grow on the solid foundations achieved to date.

Do I expect there will be changes to the composition of the board and management? - yes. As in all growing businesses, director /management skill-sets need to compensate for the growth demands put upon those in charge to build the company. Every company experiences growing pains. The need to adjust and compensate for those needs is both commonplace and essential for the ongoing prosperity of the company. I expect that MXC will make those changes when the need arises.

If the current management is not capable of making the required changes necessary to cater for the impending growth and instill the needed management skills, then its best option is to simply sell the business 100% and individually move on. Chances are in that “sell-out” situation the company is given a new lease of life and added inspiration to work on the achievements already gained by this group. The incoming skills and advance management acumen would, I believe, do justice to the company and re-install share holder confidence.

In the mean time we remain at the ASX Gambling Club to place our bets where we think we’ll get the best return.

Good luck to all!



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