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Clearly they’ve already completed some form of transaction to have manufactured and packaged a product that was ready to go in January, yet I cannot seem to find any mention at all on their website of a deal with EXTRAX.
Also why are MGC selling EXTRAX’s product? I would have thought we were just the manufacturer not the seller too. Very strange. Hoping we can get more clarification sooner rather than later.
In reply to why Extrax is no longer available at present:
"Due to a change in Marchant providers (CBD with USA banks) the product is not available at the moment, once we complete the transaction it will be available again."
Good luck to you
"To invest here and see a potentially good proposition I don’t have to like Mr Zomer."
Is that your way of saying, idiots, going forward, are a given.
"Wonder why he's lying to us"
Nothing springs to mind.
"this doesn't make any logical sense"
Unravelling!
"These guys need investigating..."
Pushing this.
"Mgc Pharma facilities are GMP Class D non-
sterile certified, with capabilities to compound
API. This, along with their packaging facilities,
means MGC Pharma can provide white label
formulations.
Additionally, the MGC Pharma production
site is certified for HACCP for Food and Food
Supplement, to produce and develop Hemp
based supplements, such as Hemp Proteins,
CBD Capsules, Omega liquid gels, v-pens, etc.
MGC Pharma provides white label production
of such products."
Probably not as bad as all seems. But still odd no real clarification on this subject.
Extrax = knb rival but with mgc support??
Its been offered for sale since January, yet the collab hasn't started yet?! Wonder why he's lying to us.
https://www.facebook.com/pg/MGCSuppShop/posts/
To invest here and see a potentially good proposition I don’t have to like Mr Zomer.
Probably a good job really.
I find this very peculiar. On 7th March, Zomer announces via Twitter 'a new arrival on our online shop' - which seems to be the product EXTRAX.
The item no longer appears in the store. I am at a loss to explain why.
Someone has obviously been able purchase it as there is a tweet and photo proving it.
Transparency is key, and perhaps there's a little housekeeping needed to allay any doubts.
God luck to you.
Second reply from Roby
Thank you! And EXTRAX project is not ready yet. Once it’s ready, we will announce. Just keep following the news flow!
It's not ready but been selling it on your website? And I thought the government was contradictory lol
7th March he announced the CBD as a new product available to buy from MGC.
https://twitter.com/ZomerRoby/status/1368579409507086336?s=20
That's over one month ago. And the collaboration hasn't started? Lol this doesn't make any logical sense. Let alone time for making product / packaging and all that jazz. This must go way back.
So what was this about? MGC have been selling oil for EXTRAX for a while now.
https://twitter.com/ZomerRoby/status/1370691991399497728
Someone ask him if it hasn't started, what have you been selling?. And it's still up on their mgc online Facebook page, although the links now dead. Clearly some sort of collaboration has started.
EXTRAX collaboration has not started yet, therefor there is nothing to announce at the moment. We do some market testing. Once it will be ready we will proudly announce about it. Star-struck
All the derampers must be upset now !
Someone has asked questions to Zomer via twitter. Have a gander at his response.
Good luck to you.
From 2017 but a similar situation?
https://smallcaps.com.au/mgc-pharmaceuticals-cbd-extract-supply-agreement/
https://find-and-update.company-information.service.gov.uk/company/12586437
It’s certainly strange we don’t know about the collaboration.
The EXTRAX company link. It says it’s nature of business is Management consultancy activities other than financial management. Huh? Same address as MGCs company page in the UK! Filing history says it was owned by Anthony Eastman and transferred to Alla Kuznetcova. I’m guessing that’s Alla Zomer? Is it normal for a public traded company to be in spending company money in collaboration with BODs family members?
Yeah I don't understand why it wouldn't be a subsidiary / joint venture. What is the collaboration terms?
Bit sketchy that the CBD has suddenly gone and his wifes got a new vape company created last year.
Hopefully mgc receive some sort of consideration from this deal on an ongoing basis??
They really need to clear this one up.
BigBobBet That’s very strange, it was there earlier.
Regardless, they were/are selling a product by EXTRAX. Yet they’ve never told shareholders about this?!
Why would MGC make a product for EXTRAX, and then sell it on MGC Pharmas website for EXTRAX? Who is making the profit?
Make this make sense!?
The link to the CBD returns a 404
https://mgc-online.com/products/10-cbd-oil
Where has that gone? Sold out?
Also the 'Balance' cbd oilon MGC Pharma shop is the same graphics from the link for the vapes smartic provided
"That's the CBD from mgc-online. The extrax is some new vape."
Yes its the CBD from MGC Pharma's page but why does it say EXTRAX on the bottle?
Are MGC selling it on behalf of EXTRAX?
The more I learn the wobblier I'm becoming :(
This should have been shared with shareholders no mention of it from MGC
Why!
This is company specific info with-holding info like this is illegal as can affect investor decisions and is a direct relation your on the LSE now Eastman/Brett not the ASX