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The founder has up and sold 25% of his shares.
Which at this SP is just about enough to buy a face serum on sale. At least he'll get a free face oil.
Fair play to Darcy for that , a welcomed move by him thank you
Darcy says he’s going to do a 45 minute question and answer session on the cbx telegram group. This is our chance to ask questions and get some answers obvs nothing material but it’s a good move on the bods part. 5pm start https://****/cellulargoodsCBX
Https://youtu.be/bi5jvvMYjSI?feature=shared The link is old from a month ago. Quite frankly! It's a p##s! Take from Snake oil salesman Darcy
How Steven Gunnion can keep a straight face listeneing to that drivel is beyond me
That would be amazing and long overdue 👍
Blimey, a blue day (so far).
Heavy buying.
News soon on Kingtide to save the day and return us to 5p (for starters)?
Good evening all , lots of comments below from the TG group , there is a growing feeling of discontent amongst shareholders , AGM in January
Agree , it’s the £220k salary that has angered people , especially after saying the company wasn’t going to employ a paid ceo to save costs , that’s all it is
And what really has he achieved other than failing to get the canary deal over the line?
Overpaid turnip. Using our money, not for investment purposes but to suit his lifestyle.... That is why there is anger towards him.
We were informed that pulling out of that deal was in the best interest for us shareholders. We later found out it was canary who pulled the plug and we have done nothing since. The money to fund any future deal has now been used up and on what exactly? KINGTIDE? OK so what is Kingtide and where is it going? We still don't know anything
He is CEO now though so currently the buck stops with him. When you take on a role such as CEO you take on the past, present and future whilst you are in this role. He is being well paid for what he has done so far and has done little to nothing to justify his existence or salary that I can see. You could say the business would be £250k+ more profitable if he didn't exist. A £220k salary is far from what it costs the company for him to exist.
Just the NI contributions as an employer on a £220k salary is an additional £29,104.20 per year. Add in pension contributions or share options or other benefits and it becomes quite a bit more.
How many days a week is he consulting for Cellular Goods? I’d bet he’s not 100% in. It appears he’s collecting a monthly fee like many of the other people involved for no apparent shareholder value.
I've asked the very same question many times with many companies when it seems like someone isn't full time or primarily focussed on the role. If they aren't doing 40-60 hours a week and much less then it starts to look proportionality extortionately expensive. Almost just extortion 😂
So 20 hours a week is pro rata to a £500k+ package! Or 10 hours a week £1m.
Its not just Darcy..the whole wage bill is an issue.
Full time equivalent costs for 5 employees was £1.5M.
5 employees.
I'll let you do the maths and let it sink in how much each person earns.
Yes, agreed. There is zero shareholder value and disrespect and distain really with this situation.
They might as well come round and take my wallet. It is moral theft and almost criminal in my book.
Yes, yes, yes! 😎
PVR ?
Thank you Freddie. You too! ❤️
As of tomorrow I’m on holiday for 3 months. Very happy!
Have a great NY Mel x
Have a great new year all ❤️I’m sure 2024 will see then end of CBX but as Bobat says there are other fish in the sea and it’s always a risk.
I hope Darcy and the team enjoy their cost cutting and say thank you to the staff they sacked this year whilst awarding themselves pay rises and a £220k CEO salary 💩if that’s not integrity then who knows what is
Life is too short to dwell on this . Happy New Year to all the peeps who are in this or not. Hope 2024 is very prosperous for us all. Enjoy the break. Good luck all. No hard feelings here. Be Safe and Sensible.
Well, to be fair to Darcy, he has thrown a few curve balls. So I wouldn't be surprised to see a large percentage of dilution sold at a premium (around 3p) to a Qatari or Chinese state-backed company in order to compete with the recent Saudi moves. Eventually the skincare division would be made private, or sold to someone lie Fraser's group (their Operations are actually not far off from one another, it would be easy to incorporate).
Curve ball strategy prediction: 50% dilution at 3p per share. Sale of skincare formulations and supplier book at £8M. Forecast to break even ~2025 and start making serious money ~2027 when politicians find out that industry was pulling the wool over their eyes in regard to emissions and true environmental cost green energy projects.
Just a bit of a laugh.
LOL - St Ives- I still hold here and you dont. Move on. Stop wasting time and energy here when you can make money elsewhere. Good luck
Bobat in May “ Bought in the morning. Sold Out - I read the CBX RNS and can't see any references to commercial agreement terms, such as what the anticipated revenues and profit margins are set to be”
Then began ramping like a madman from 1st August. I hope you didn’t get caught out on the ramp RNS that day Bobat. You have zero moral ground here.
I am also a LTH. Peeps bought into this themselves, me included. I will not stoop low and tell other peeps to sell. They can make their own mind. If peeps have sold out move on.
Bobat - I think it depends on your motivation for this share , for the day traders I really don’t blame you for buying and selling as I’m sure there is some good profit to be made so good luck
For a lot of people we got it completely wrong and bought into the journey of Cellular goods and have paid a very big price , it’s not about the losing of money it’s more about the lies and mismanagement from the company that hurts some investors.
Good luck to all who can make a profit I salute you but for the LTHs I feel your pain ❤️
This company might/will go down no issues. This risk I am willimng to take. My money my choice. You win some you lose some. There are other shares which will also fold but I will not go to that forum and tell peeps to sell. You buy here and you sell and you move on. No point crying over spilt milk. It was your choice to buy here and this share has failed you move on. Dont come and tell other peeps to sell out. This is their choice.
Bobat. If this board only ever had posters like you, how many more people would have been suckered into buying into this sham. It would be ridiculous.
Some people never know when a company is finished... re read the RNS... it looks like is Haa 3 months max
Added More. Nice to see peeps not invested here telling other peeps to sell. There are other shareboard they can go to. They need to move on from here. You sold out good luck to you.
It looks like it can only raise through dilution about £500,000 and then have to issue 300 Million shares which would completely wipe out any remaining shareholders. Then how long cold the company run on such a minimal amount of money raised?
There comes a point for companies like this when issuing shares no longer works. This is such a time. Is there a white Knight out there willing to fund this outfit?
It is now not possible to issue shares at 0.10 - 0.15 as it would raise so little. Looks like the end of the road and it is heading towards administration as funds are exhausted, some of which was put into carbon capture. When it did this, this diversification should have been seen that the company had failed with it main product. Suspension of the shares is the first stop.
If you take out the £570,000 in shares issued to Matthew Lodge for the great seaweed scam from the Product Research & Development total of £ 586,289 total you are left with a grand total of £ 16,289 they have spent on developing their products in a full year.
Wow !!