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28-03-2024, 11:03 PM
#671
I can now see the sticking point. These companies tend to sell the silverware to survive. But in this case the silverware has a security over it.
My main question is still how did this happen so fast. Even the notes were issued for a 24 month period.
Depending on the cash burn from Jan to today (calling that 100 percent liability) add to that the notes value. Then take the plant value ( discount from bv as the market is tough and will take a lengthy period to sell)..... Then the Administrators are only left with one option. That is ask for shareholders to cough up say 10 million. Chances of that happening, I do not know.
Last edited by Toddy; 28-03-2024 at 11:04 PM.
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29-03-2024, 06:47 AM
#672
Member
Last edited by shareman; 29-03-2024 at 07:34 AM.
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29-03-2024, 03:14 PM
#673
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30-03-2024, 11:11 AM
#674
Junior Member
Shareprice went into freefall after the merger - my extremely uneducated theory on this, eqalis shareholders who suddenly had their shares converted to cbd ordinary shares may have sold their shares with no escrow in place to stop them getting their cash out, selling at market sell and basically bottoming out the shareprice. It went from 30c at merger to single digits in the space of a year, despite positive announcements of revenue and products being approved. Can’t help but think this was an intentional strategy - will find out once the administrators have their plan for the future of cbd.
Edit: Also interesting to see the CFO has resigned (fallen on sword?) - should we expect the same from the CEO/Chair/Board?
Last edited by deez_nutz; 30-03-2024 at 11:21 AM.
Reason: Forgot to add something
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30-03-2024, 06:22 PM
#675
Member
Originally Posted by deez_nutz
Shareprice went into freefall after the merger - my extremely uneducated theory on this, eqalis shareholders who suddenly had their shares converted to cbd ordinary shares may have sold their shares with no escrow in place to stop them getting their cash out, selling at market sell and basically bottoming out the shareprice. It went from 30c at merger to single digits in the space of a year, despite positive announcements of revenue and products being approved. Can’t help but think this was an intentional strategy - will find out once the administrators have their plan for the future of cbd.
Edit: Also interesting to see the CFO has resigned (fallen on sword?) - should we expect the same from the CEO/Chair/Board?
To be honest none of the 3 have done well. So it's not just a CBD issue. RUA and GFI suffered as well. Part of the problem was the NO vote to legalising cannabis here. While these companies seem to say that wasn't their target market it surely affected them.
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30-03-2024, 09:00 PM
#676
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11-04-2024, 11:45 AM
#677
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11-04-2024, 12:14 PM
#678
Wasn't Lucas the founder and largest shareholder?
Newshub reckons should be growing veggies - a real cash crop.....
https://newsroom.co.nz/2024/04/03/ca...iculties-bare/
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11-04-2024, 12:35 PM
#679
Junior Member
Originally Posted by Sideshow Bob
Wasn't Lucas the founder and largest shareholder?
Yeah, this is a real shame 😔
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15-04-2024, 11:55 PM
#680
https://www.nzx.com/announcements/429589
COO terminated and thrown overboard now
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