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This is simply going to keep dropping until more contracts commence….
On its first day, MGC opened trading at 2.01. Allowing for the bid/offer spread, it hasn't fallen below that value since then. So there is, so far, a solid base of investors. The drops have occurred from a speculative high that was hit early on. Having said that, the recent fundraise poses the question of whether MGC properly assessed the cash burn - is that because they are pursuing too many directions too early? It’s not simply a question of needing more contracts commencing, rather it is about whether established demand and revenue adequately covers production costs with sufficient margin to justify further expansion and the additional cash injection(s) that this may well require. The fact that the sp is still on the floor relative to its launch price indicates that the market has yet to see a tangible reason to raise it.
"MGC has great potential but not directly updating investors.
We would like to know about any progress, contacts, projects, products etc"
Itaforever
To be fair, they have provided a lot of information in recent weeks ....you couldn't really ask for more.....the rest is down to waiting until 3rd Party participants do whatever they have been requested to do... and that is a waiting game beyond MXC control
Paul
It's not about disputing with fools.
Everyone has his own vision and analysis.
What people didn't get here is what I said before. MGChas great potential but not directly updating investors.
We would like to know about any progress, contacts, projects, products etc
Money received from USA and so on.
With hope this share will fly.
You get more investors not just day traders
Gla
This is simply going to keep dropping until more contracts commence.
Where the bottom might be, who knows, its hard to value, but looking at assets, debt, current sales, Mcap, shares in issue, I think we are somewhere in the ballpark of fair value now. Negative sentiment may drop it a little lower but I think 2p is about it, anything lower and its starting to look a little undervalued.
That said its mostly PIs invested and sentiment can therefore magnify SP movement disproportionately either way.
I think there are a lot of very naieve and inexperienced investors in MXC, it won't take much to make them jump ship.
I suspect a lot of experienced and institutional investors who mat have cannabis related stocks on their watch list will not make any move until positive news starts to materialise into physical sales.
MXC is in a new arena which many will be wary of and its also a fledging pharma stock which experienced investors will know is a money pit where tradionally a lot of pipeline products never make it to the market place.
Its no surprise its burning through cash way faster than its coming in, and its efforts may come to nought, but they have made substantial progress over the last 18 months.
I personally am still uncertain how this will play out, and very uncomfortable with the current losses and direction of the SP.
But if I keep emotion out of the decision, I think holding what I have is the wisest move for me.
I only hold 481141 shares at an average of 3.01p and while its going to hurt, if I lose the lot its not terminal as I'm well invested elsewhere.
Would I buy now, no absolutly not, I'd do what the institutions do and watch and wait.
Will I double my holding in the future, maybe, it depends on how it plays out.
Does that translate to "oh look mgc has just set a new intraday low of 2.05" by any chance? Lower highs and lower lows...
Itaforever
Numquam disputare cum stultus.
" Look at gdr RNS this what the investors want to see."
Sure..but many of the posters there were heavily trolling the CEO before that sudden turn around...".negative" on a scale off the charts..
Interesting there to also see the long journey they are having to get anywhere in India
Patience is indeed needed
I dont think the BOD here care two hoots how many shares they issue. I dont think they care that much about how much money gets spent...research and trials and licence administration just eats up millions ...c'est la vie...all part of what they are involved in
Getting any FDA approval is always a long and expensive and somewhat slow process
At the end of the day they will one day just consolidate the shares and then it wil be as if they never existed
It’s not necessarily true that more shares issued makes your holding worth less....
The Issuing of new shares will decrease your percentage holding in the company (unless you buy a compensating proportion of them, as in a rights issue). However, if the new shares increase the value of the company in proportion to the new cash injected, then the value of your holding remains the same even though your percentage holding has been diluted.
The new shares were sold at a discount and the market price naturally fell to near that level. Meanwhile cash was added to the balance sheet which increased the book value - which is attributable to all shareholders.
Add to your knowledge
Just look at the sell today and before today. That's speaks for itself
Nooo confidence by investors
I was like you, believing in mgc
Sauve qui peu
Paul who knows it all
Look at gdr RNS this what the investors want to see.
Not negative news
Itaforever
I don't know whay you mean by millions of unsold shares.
All shares in this stock have either been issued or promised, so have owners.
I would have to ckeck and to be honest can't be bothered, but I believe the market knew aboiut the share issue about 22nd April this year, with further information about the share issue being released about 24th November.
Since this was known some time ago I think it likly the dilution was built into the share price long before today.
From your posts it appears that you have no idea how markets work, how to value a stock, or anything at all about investments.
All I see you post is endless pointless drivel without any substance. I'm not even convinced you know how pharma companies operate let alone what MXC actually does.
Do I think MXC can make money, yes or I would have sold already, we might even see 3p or 4p next year, but thats about it. In 10 years time it could be very different, but Rodney if you think 'by this time next year we will all be millionairs' you are sadly mistaken.
Do I think MXC can fail completly, yes absolutly, this is a high risk stock, you buy knowing you could come away with nothing, but if everything goes well in a couple of years you might double your money.
In oversimplified terms.
I invest with a minimum expectation overall my stocks to make a minimum return of x% p/a, including dividends and increases in stock value, some are low risk steady eddies that may slightly underperform on my expectation, but they are dependable and highly unlikly to fail, some are moderate risk of which most will exceed my expectation and some will fall well short, but again they may drop in value but are highly unlikly to fail. Then there are high risk stocks which may exceed my expectations producing returns far above the norm, or could very easily fail completly.
More good news on youtube, nice exposure from bulgaria on tv. Expect an order from them soon.... oh wait, wheres the germans one at?
I think you do need to know they have issued more shares because it makes your holding worth less.
For example:
If I buy a single share in a company that only issues two shares I own 50% of that company. And I only own one share.
If the company then decided to issue another 1000 shares of equal value, I still only own one share, but it's no longer 50% of the company.
Sorry this is a very simplistic example. But I am currently on a mobile so typing isn't the best
So in MGCs case, the issue of new shares means the value of our shares in real terms has fallen by 10% as someone stated earlier.
Also the shares are not unsold, they were bought by some institutional investors as stated in the RNS. It's just a capital raise.
Despite some not liking the news of the Vapes, it is news and another revenue stream for MGC so ultimately good for all share holders.
@ magstar.
I meant we need news about achievement, project, production any positive update.
I don't care about how many shares are out there.
We are investors, we need to see what are we invested in not how many shares?
I need to see the quality of the goods
What is all that about ?
I don't understand your last post
This not what we were expecting.
WE NEED NEWS ABOUT PRODUCTS, PROGRESS
ROBY, THERE ARE MILLIONS OF UNSOLD SHARES WHY ADDING MORE SHARES.
I WILL THINK TWICE BEFORE SELLING EVEN AT BIG LOSS
THANK YOU MGC
More loving the cute girls in white coats on their about us page. Mgc, this is what you need on your website :) no offence, ditch the pic of roby posing for the next hypnotist show and replace it with cute lab girls getting all giggly with cimetra. Be more pleasing to the eye than the sp. :)
@just the facts
The eco warrior in me agrees with you
The capitalist in me disagrees with you
My desire to negate my losses doesn't care as long as I break even!
Hold for the gold and then start on the eco friendly journey when it comes in
...and with a hell of a lot of wasted plastic and metal if they are throw away.
Its a bit like those coffee pods, is it worth wasting that much plastic just for a cup of coffee, or in this case, a few smokes.
EXTRAX CBD Vape pens have been successfully listed as an Unapproved Therapeutic Good by
@MGC_Pharma
.
"This new way of consuming #CBD is now available in #Australia for the first time ever, allowing Australian consumers to take cannabis in a new, safe and clean way."
https://twitter.com/MGC_Pharma/status/1468268166572871685?s=20