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Happy with Russian (possible) deal. Again, proves, that MGC are lining things up nicely. Needs a wake up here, re: potential. It will come. Patience and forward thinking. IMO. GLA.
Good old fact based post nice spot Magnum well backed up by Pokerchips per usual. Have a nice evening
Philmccrotch
thanks...looks like in the account they put the loan as a credit and then wrote it off as a Provision ..in case they didn't get it back (risk) (fair value equals nil) ... ..bonus then...if it comes back on to the account as an unused provision..at some future point that the loan is repaid
" within the next few months" could be fairly soon
We need something good to reverse downward trend. Hopefully this will happen soon.
Well it was enough for me to add to my position. I won't be surprised if next RNS or two have Russian connections.
Getting a deal with Russia would be a massive boost. Maybe this is one of the several Eastern European they are working with for a deal.
Good old google translate:
innovative breakthrough
in the fight
with a pandemic COVID-19
Found it! was on instagram not twitter, sorry for the confusion.
https://www.instagram.com/p/CVeoKQlse1p/
Any comrades speak Russian?
The only thing mentioned about Russia in the quarterly and annual statement was:
"During the year, funds were loaned to an unrelated entity to advance registration of its phytomedicine products in Russia
and CIS countries, interest-bearing and repayable in 24 months. MGC Pharma is party to a draft agreement to acquire a
54% interest in this entity for nominal consideration, with finalisation of the transaction subject to signing and physical
lodgement of the share transfer document in the country of incorporation, expected to occur in the coming months.
The loan has been classified as a financial asset at fair value through profit or loss, with a fair value determined to be nil
at 30 June 2021 due to the equity risk associated with the loan."
" could this be an early indication to supplying Russia? "
Russia has been worked on some some time .... during the last financial year they spent over Aus $0.5m on the registration process to own 54% of the entity there ( Russia+ CIS countries)
They mentioned back around June that something would happen " within the next few months"
August 2020 : - https://wcsecure.weblink.com.au/clients/mgcpharma/headline.aspx?headlineid=6992677
Did anyone see on one of Roby Zomers twitter accounts (he has a couple) yesterday a posting with MGC logo and Russian text? I saw it early morning and thought nothing of it but on reflection could this be an early indication to supplying Russia?
I've searched but can't find the link and can't remember his twitter name for that account but only 250ish followers...Bit cryptic, but perhaps someone else here follows the same account.