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Lots of buys being printed red. I reckon once the loose shares clear under 2.9 then we firm up nicely above 3p while we await news.
Launch of Treat It, the Company's new online clinic for pain management. The service allows patients direct access to high-quality medical treatments, including medicinal cannabis, and enables patients to take control of their own personalised care.
Acquisition of The GP Service Ltd ("GP Service") now fully integrated into the Group, expanding the Group's activities and skillset across the digital health services arena.
Continue to deliver further ongoing strategic progress, which includes the process of obtaining CE Mark certification for the Group's cannabis inhaler which remains on track.
Buy zone here imo.
Ian Mattioli is a shrewd appointment.
Mattioli Woods is a very well ran company. He’s the founder.
Porky - just a thought; maybe it’s just to see us until the CE approval. Hopefully a SP rise from there and possibly further dilution to become established in Europe
RNS released confirming this news and and that existing shareholders will have to apply for a share of the £200k worth of shares that will be made available to purchase out of the £2.54M raise that has already been purchased by the big boys. Confidence is growing and it looks like any shares that are available and sold from here will be easily snapped up.
Spot on there porky
Maybe see an RNS at open in view of the press coverage.
Would a £3m raise be enough?
Research and development expenses 597 242
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Sales and marketing expenses 1,190 569
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General and administration expenses 3,804 2,000
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Impairment (reverse impairment) of financial assets carried at amortised cost (59) 598
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Other expenses - including acquisition and listing costs 1,448 1,172
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Operating loss (6,781) (4,574)
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Cash at Dec 22 was £ 3.2m so current cash burn circa £560kpcm
IF cash burn as existing since end of last year, to end of this month they should have £ 400k left. If they can only raise the £3m then its going to be tight but the new CEO sounds VERY experienced so that is a major factor as long as he is not joining on a silly salary and his£500k is to build the business not just pay him!
Judging by the frequent ramped up press coverage it looks like the Cannabis sector could be ready to breakout and if so they will probably need the cash to respond especially once they've gained the CE mark and also supplying the EU. Looks like the new chairs investment came with an agreement to be appointed to the board. His investment shows confidence that will attract other big investors as he's well known in the city . With only 423M shares there doesn't seem to be many free shares available and it will be interesting to see who these new shares are made available to and at what discount price as there could be a strong demand growing. Whatever happens im just hoping this news is beneficial to retail investors.
Had to happen I guess, at least the new chair investing 500k is a positive.
Remains to be seen what effect it has on the SP but this will take us through to CE mark being granted.
Just seen this and its another cash call on the cards together with the new chairman who will also invest £500k .RNS Tuesday.
https://www.coastfm.co.uk/news/business/london-listed-cannabis-group-kanabo-to-raise-cash
https://news.sky.com/story/medicinal-cannabis-safe-and-effective-pain-relief-method-for-cancer-patients-study-suggests-12871756
https://www.independent.co.uk/news/health/medicinal-cannabis-cancer-pain-drugs-study-b2331032.html
https://www.bbc.co.uk/news/health-65461319
Northernboy......dont forget the Operating loss totaled £6.8m (2021: operating loss of £4.6m).....
Very very important.....always hang all the clothes on the line nit just the good shirt that's looks the best....
Revenue up 726%
"2023 has started well, and we were delighted to announce the launch of our online medicinal cannabis clinic for pain management in March - leveraging our proprietary technology to provide access to pain management treatments for patients across the UK. I believe we now have the right strategic and operational focus to deliver further financial progress and I look forward updating all our key stakeholders throughout the year."
Significant revenue increase showing signs that this is nicely coming together despite an expected increased operational costs loss and they express short to medium term further gains. When they finally gain the CE marking then expect further increase in revenues across the EU. Still have cash in the bank so hopefully no need for near term dilution but lets hope the market likes it
Anything you think causing this?
I have been trying to buy since the SP turned and managed to get some at 2.9 but buying in small amounts as no volume available. Price ticked up Friday and you still couldn't buy so whats happening here, maybe a big order to fill, or is this the start of a decent rise in preparation for news.
I will see what the MMs have available tomorrow.
I think you may find CHLL is rising..mm's currently very short of stock to sell, so a treeshake/ stoploss trigger in action today, plus profit takers from recent rise. Expectations of some decent sales poss acount for the rise..but Parliament news should benefit all cbd companies....GL
Another chunky rise and no RNS underpinning it? How come other cannabis stocks aren't seeing similar if this is just down to positive comments by a parliamentary committee about the use of cannabis for medicine? Leaky news on the way?
for NOT got!
Seems yesterday got some unknown reason, the SP rallied a bit…. maybe we will see a further shift upwards to 3.1 - 3.3….
https://www.politics.co.uk/parliament/mundell-outlines-the-benefits-medicinal-cannabis-could-have-on-the-economy/
MP gives a good account to the benefits of medical cannabis
We will get there one day.....
Keep posting.