"Something that almalgamates the new structure, business plan, any possible objectives both near & long term etc so shareholders have a clearer understanding of CGB position/direction." (sic)
In my opinion, the plan (growth and 'acquisition' etc.) outlined in the first prospectus that holders and other investors 'signed' onto (what are they up to now 11?) has changed enough to warrant the BOD moving all funds acquired in the placement back to holders and other investors and then start again.
That would, at least, give holders a, "... clearer understanding of CGB position/direction", as you rightly note. I think that they bit off far more than they could achieve in the one prospectus - and the subsequent facts support this conclusion. And I have always wondered why the owners of Medcan needed QBL / CGB - it just didn't make any sense to me? They had the necessary licences - and still do!
I honestly can not recall ever having witnessed 10 or 11 variations of a prospectus on any other occasion during many, many years of investing. Maybe it's more common than I appreciate but I have not seen it before.
The half yearly report will be keenly anticipated by holders - I suspect. The spend on related party transactions will be particularly interesting in my opinion.
In my opinion - any BOD of any company that struggles to bring together what they have outlined in a prospectus (a prospectus that investors are entitled to assume was well thought out and would be duly executed) ought not be rewarded.
Anyway, more to come in the half yearly report I suspect!
Looking forward to it reading the financials and activities in that document.
Just my views.
CGB Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held
