Originally posted by uavsolutions
Lets try breaking it down:
- Fully Licensed to grow and manufacture
- 50m in the bank
- Developing pain medication and have sorted out a delivery mechanism that means there are no issues with canaboid degradation
- Installing further grow rooms this year
- only licensed grower in Chile
- if the pain med avenue doesnt work they can always go through their licenced partners
Bought today... but then im normally 6 months ahead of the curve
Does not mean AusCann can sell anything until the products are trialled and later approved by the Therapeutic Goods Administration (TGA). They don't have 50m in the bank, and they are blowing a total of about 11m very soon on the new R&D facility. I think this company will have to raise money again from the market in 2 years time just to survive. All they are doing is burning cash and making promises. We will see if they can deliver on any of the promises made since last year. One must question the big boys sold a lot of shares right after escrow. In the next two weeks, we will see if they continue to sell this down further. I won't rule out the chance that it could bounce 20% up but I am happy not to bet on it at this price. For pure short term punt, I would be tempted around 35c.
