I don't think it's cheap. I was speculating on this one just like every one else and was lucky to get out with a profit. Without the 67% pop a while ago I would not have been able to to get out! It looks cheaper than when it was 85c. And 85c was cheap to when it was 1.80. This is all relative and you only see it for what it is when you look at the market cap still at a whopping 120m! The 40m in cash is probably down to about 35m or less now. There is no revenue and no product. Of course, people are hoping for an announcement of the long overdue hard capsules.
In their Mar quarter report
"ASX RELEASEAusCann Group Holdings Ltd ACN 008 095 207www.auscann.com.auEmail:
[email protected]: +61 8 9561 8834Suite 8, Level 2, Shenton House, 57 Shenton Avenue, Joondalup, WA 6027 AUSTRALIAQuarterly Activities Report and Appendix 4C Quarter ended March 2019Product development and manufacturing: PCI Pharma successfully manufacturesfirst R&D batch of AusCann’shard shell capsulesPost period end, TGA licensed PCI Pharma manufactured the first Engineeringbatch of AusCann’s medical cannabis hard shell capsules for the treatment of chronic pain. This is a key step in AusCann’s manufacturing process and brings the Company one step closer to the release of its medicinal cannabis product line for clinical trialsand Special Access Scheme for patientslater this year."
This locks them up into announcing a larger quantity and trial arrangement in their next quarter report. If investors don't see this, the share price will crash further. The think the relative stability in share price for the last 3 months is based on this expectation of a decent announcement. I predict we will either have a decent pop and profit taking/selling then going side way or share crash (if the announcement has nothing new). And it's coming soon. Setting stop-loss orders is probably the way to go for the retail long.
(20min delay)