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Probably still close to £1m in cash left so maybe no need to panic just yet , it just depends now on Mikes salary etc and the other costs
That’s a great first move from Mike Edwards, he has been here from day one as one of the original investors in Cellular Goods.
He is also founder of Ora Carbon the trading platform and we have Kingtide as a sub division so lots of synergies.
Who knows what the next 6 months looks like but I’m sure there will be a lot of movement in company structure , RTO etc
Let’s not forget we have a main market listed company here which is worth it’s weight in gold and we just need a strategy to capitalise on this listing, it took a lot of time , effort and money to get this listing so I don’t see why they would give it all up.
I hope the day traders make a nice profit and LTHs get a chance to recoup some major loses ❤️
Will need raise some time, cash I'm sure getting low,
Cellular Goods PLC - Director's Dealings #CBX @CellularGoods https://www.voxmarkets.co.uk/rns/announcement/109dbb63-dfb6-4c34-b867-c651227d651f #voxmarkets undefined
Another 1.5m purchase went through at the close.
2.5 mill printed. Looks like Mike already loading up.
Doesn't take a lot of searching to discover Mike Edwards is a very interesting prospect for CBX and he will already know what he wants to do with CBX.
Looks like he has already been involved here though........
https://fortune.com/2021/06/11/crypto-cannabis-psychedelics-these-entrepreneurs-are-betting-on-a-regulatory-shift-for-their-next-ipo/
So it’s Mikes’s turn!
I wonder how much the new executive director will get paid..
Lol. Cannot see anyone selling. Peeps will hold till next rns to see what the new director can bring to the table. Told peeps long time ago RTO coming. We shall see what happens in the next few days weeks
Cellular Goods PLC - London-based cannabinoid skincare manufacturer and carbon sequestration service developer - Announces resignation of Darcy Taylor from position as chair and interim chief executive officer. Appoints Michael Edwards as executive director with immediate effect. Edwards has over 20 years of technology investment experience, and was co-founder of the Argo Blockchain PLC and NFT Investments PLC digital asset companies.
Bunsenburger. You have zero idea what a cash shell is or the rules that apply to a cash shell. This is about to fall into administration. It has little cash and what is has is being burnt up slowly. It needs to raise funds. But who or why would others help a failing business with few or little sales? It may look cheap but when it goes to zero then you will see how cheap it goes. It is priced to go under. I do not see what can save it. With the CEO resigning obviously there is a reason why. Most directors quit at times like this. Bad news is coming out and a heavily discounted share offer and dilution. AVOID.
Cbx essentially a shell? So a cash shell? Cash a little bit less than market cap I believe? Have a look at OVB - they are similar - essentially a cash shell. Except they have circa 3x cash to market cap. Please see RNSs.
CBX looks cheap though certainly
I'm sure the new CEO will already have a plan. The creams are an utter failure. CBX is already a shell more-or-less. Reverse Kingtide into CBX shell? Something new. Who know's.
New CEO seems very capable. Yet it looks like he has a loosing battle on his hand. The company is haemorrhaging cash. First job must be to announce heave wage cuts. Then some how get a backer to support the on coming fundraise. Its going to be a heavy discount. Raising little money and issuing a large number of shares. Christmas trading was dire and little products sold. I think the company may struggle to get a backer. The seaweed idea could be the plan that brings it all crashing down. Avoid it can only end in administration. Can it find a big player who will buy a stake? Its possible but unlikely. Will David come to save the day with some cash?
All we want is clear , concise engagement so we know our investments has a future , we are happy to support as needed , let’s see what Mike Edwards has to say and maybe Matthew Lodge who is our largest shareholder now , a clear and honest strategic update on Kingtide is long overdue
I'm happy Darcy has gone, did nothing, 200k saved. Thoughts on the new appointment?
If people are jumping ship it looks like the ship is going down.
Chairman and Interim CEO of the Company, RESIGNS effective immediately.
A sign that things are falling apart. Do not take part in any funding. The company is not far away from administration, as they all jump ship. Too little too late.
fleecing 12 million of shareholders money and paying yourself handsomely @ £220k per annumn is a one way campagin!!! - alright of taking the royal ****! out of us! now! do forgive me for not having the usual patience of some and sugar coating it. but i see a hustler and a spineless one at that. darcy! freese! go do one son!
The last of the cash will shortly be used up in paying high wages. God knows why they pay themselves so much. Soon the gravy train will end when they attempt a fundraise and no one is willing to back it. Hence no purpose for listing and suspension is announced. Administration beckons.
For clarity I don’t have anything to do with the cbx board and am baffled why you keep pushing that???. Just another out of pocket investor who doesn’t see the point of an online hate campaign that will make my investment worth even less than it is now
Good Afternoon Darcy
Thank you for planning the time to join our Telegram group and answering the questions we have , it is very much appreciated.
We hope you understand our discontent and frustration with our investment in Cellular Goods.
We have all conversed on this platform since day one and we understand the financial risks that investing undertakes.
On the other hand some of the decisions made ( not all by you ) some of the misleading RNS statements and rhetoric have created a lot of mistrust and anger in our community.
Below are some of the questions that some of our members have asked to be answered , we hope you can give some clarity and integrity to this session 👍
A few more
At the AGM in January 2023 we were told on our Q&A that the reason we wasn’t employing a new CEO after Anna was due to cost saving reasons , yet we have awarded a £200k salary to Darcy , can you explain why ? To be clear we have no problem with a salary being paid for work and effort but to be mislead is difficult to understand, also is £200k a fair remuneration for what we have delivered in 2023 , Darcy has been interim CEO do all that period as Anna left in August 2022
You have stated that Kingtide would be generating income by end of 2023 , why has this not happened ?
Unfortunately Darcy had to cancel but we are hopeful he will reschedule next week , below are some of the questions that shareholders on the TG group have put together, let’s hope Darcy answers them
Further questions from me.
Q:did Alexisis provide the any feedback as to why he significantly reduced his holding?
Q:Aja ventures has a director in common with Pinoeer media holdings. Can you provide any further information about the connection between the two companies.
Q:what roles do the 5 FTE employees with a salary of £500000 undertake? £100,000 each, but total revue of under 70k.
Q:the company appears to be fundemtnally changing its direction from lab grown CBD based products to Carbon Capture without detailed justification to shareholders of this decision change. Can you please advise which Market you see the company in in the next 3-5 years.
why was Anna paid so much to leave after achieving literally nothing
Do you intend to actually be more pro active in getting products out and having a proper marketing campaign? Maybe work with the recent Big Brother contestants like dylan- The amputee or hallie the trans contestant I can put you in contact with Dylan
Can you confirm that the other king tide advisors are receiving a salary
Have you been actively engaging with potential carbon credit customers and if so can you give detail ?
Have you considered pursuing a listing in other countries to run alongside London?
Anna Chokina is her social and professional posts has stated that the company is generating £5m in sales , can you clarify and if possible rectify as this gives incorrect information from a senior source who was employed by CBX
What is the current business plan, model, cash burn, revenues predictions/expectations?
If sales/revenues don't increase and/or costs reduce substantially how much cash is in the bank to keep the lights on and how long for?
When will a further raise or funding be required?
Where will that come from?
Why have sales/revenues been so abysmal and pathetic?
How many people are working for the business full time and who is that also what do they do?
How many people are working for the business part time and who is that also what do they do?
What are stocks levels in value and quantity? How long will this last based on current sales?
Does stock have short expiry dates and will any of this stock need to be written off if not sold? How much will be written off?
Hi there ceo? Kingtide? As update on this was due end of December 2023. Also cash runway. Many thanks.
We have a cash runway for the rest of this year on current cash burn ( from what we can understand from the last trading update ) what are the plans when this year ends and we have no cash left ?
When can we expect Kingtide to start generating income
Why has product been unavailable for over 4 months now ? Is it due to lack of sales so we are not restocking?
Is Darcy
Better opportunities elsewhere IMO