Member Info for Dodge10299

A bit confused what the company is now but exciting, I think it’s similar to below 👇, have a look it seems very interesting.

Mike needs to explain this direction in more detail plus what is happening with Kingtide

https://www.perfectcorp.com/business/showcase/skincare/home

https://oddity.com/

Exciting times all ❤️

Imagine the jump if we get positive news , great to see some blue finally

We don’t know Mike Edwards intentions but you have to admit he has a pedigree in business , he could make a massive difference to this business either way GLA ❤️

Fair play to him 👍making all the right moves

All I’m not being funny but who is Matthew Lodge and what has he brought to the table ? We gave him 95m shares almost a year ago and for what ?

No revenue

No strategic plan

Absolutely nothing

Does that feel right to you all after almost a year ? Or am I being cynical?

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 ❤️

Cellular Goods PLC - Director's Dealings #CBX @CellularGoods https://www.voxmarkets.co.uk/rns/announcement/109dbb63-dfb6-4c34-b867-c651227d651f #voxmarkets undefined

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

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

Fair play to Darcy for that , a welcomed move by him thank you

That would be amazing and long overdue 👍

Good evening all , lots of comments below from the TG group , there is a growing feeling of discontent amongst shareholders , AGM in January

Agree , it’s the £220k salary that has angered people , especially after saying the company wasn’t going to employ a paid ceo to save costs , that’s all it is

And what really has he achieved other than failing to get the canary deal over the line?

Overpaid turnip. Using our money, not for investment purposes but to suit his lifestyle.... That is why there is anger towards him.

We were informed that pulling out of that deal was in the best interest for us shareholders. We later found out it was canary who pulled the plug and we have done nothing since. The money to fund any future deal has now been used up and on what exactly? KINGTIDE? OK so what is Kingtide and where is it going? We still don't know anything

He is CEO now though so currently the buck stops with him. When you take on a role such as CEO you take on the past, present and future whilst you are in this role. He is being well paid for what he has done so far and has done little to nothing to justify his existence or salary that I can see. You could say the business would be £250k+ more profitable if he didn't exist. A £220k salary is far from what it costs the company for him to exist.

Just the NI contributions as an employer on a £220k salary is an additional £29,104.20 per year. Add in pension contributions or share options or other benefits and it becomes quite a bit more.

How many days a week is he consulting for Cellular Goods? I’d bet he’s not 100% in. It appears he’s collecting a monthly fee like many of the other people involved for no apparent shareholder value.

I've asked the very same question many times with many companies when it seems like someone isn't full time or primarily focussed on the role. If they aren't doing 40-60 hours a week and much less then it starts to look proportionality extortionately expensive. Almost just extortion 😂

So 20 hours a week is pro rata to a £500k+ package! Or 10 hours a week £1m.

Its not just Darcy..the whole wage bill is an issue.

Full time equivalent costs for 5 employees was £1.5M.

5 employees.

I'll let you do the maths and let it sink in how much each person earns.

Yes, agreed. There is zero shareholder value and disrespect and distain really with this situation.

They might as well come round and take my wallet. It is moral theft and almost criminal in my book.

Have a great new year all ❤️I’m sure 2024 will see then end of CBX but as Bobat says there are other fish in the sea and it’s always a risk.

I hope Darcy and the team enjoy their cost cutting and say thank you to the staff they sacked this year whilst awarding themselves pay rises and a £220k CEO salary 💩if that’s not integrity then who knows what is

Bobat - I think it depends on your motivation for this share , for the day traders I really don’t blame you for buying and selling as I’m sure there is some good profit to be made so good luck

For a lot of people we got it completely wrong and bought into the journey of Cellular goods and have paid a very big price , it’s not about the losing of money it’s more about the lies and mismanagement from the company that hurts some investors.

Good luck to all who can make a profit I salute you but for the LTHs I feel your pain ❤️

And again

The problem is even if sales increase massively I don't think it will be very profitable. Then with BOD salaries like this how is it ever going to make a profit.

With massively increased sales will mean massively increased head count, then costs. Running before they can walk.

I work for a 100mil plus telecomms company. Our BOD isnt paid like this. Our ceo is on less

It is consciously immoral as they must know they are not busting their balls working their backsides off 60-100 hours a week trying to make it a success. Take take take.

Let’s face it we have been scammed, I never in my wildest dreams expected this , I could live with it if they showed integrity but the salary now for Darcy and the severe lack of results shows this has all been a scam and they are just milking the last bit of money until it runs out

Similar things happen far too often these days I'm afraid. We far too often reward poor performance and do not punish criminality legally or morally.

Shareholders in Love Hemp lost everything whilst the BOD and CEO lost nothing. It was bought out of administration by a major shareholder and still trades as if nothing has happened.

These CEO's and complicit BOD's should never ever be allowed to hold any position of responsibility or authority ever again as long as they draw breath.

There is far too often zero accountability or responsibility taken. Just steal other people's hard earned money and not even say sorry or care or show any remorse.

Even if they did intend for it to work out, the point is that to see "long term value for shareholders" with these salaries we probably need to sell about 10 million units. There are no products 🤷

This is cellular goods. Not Nivea lol there are no products. Day mouse and serum that's about it. We were and will never even cover those salaries.

If you started a business and went to the bank for the start up loan instead of what they did and took the money from investors, you would not be allowed to pay yourself 220k a year without pulling in any work or revenue and then just call in administration when you run out of the banks money

Yup, agreed. Any business when it starts must have a basic business plan and an idea of its revenues, costs and projections. All basic stuff. If it doesn't meet these then it will fall short and you either have to dramatically cut costs, source further funding or dramatically increase revenues and/or profit pretty fast.

Hardly rocket science. These kind of people shouldn't be running any business. They are either useless or corrupt. Not sure which one. Maybe both.

A few more

It’s pretty obv they don’t have the company’s or shareholders best interests.

Just in it for themselves that’s it

It's the great CBX scandal

Something needs to be done after all the money they av paid out its criminal in my opinion.

They av not mentioned king tide although I herd we would be hearing something. Lots of carbon stuff going out.i dnt reckon we will get a full time ceo.

Well if the part time one pays himself 220k do we really Want a full time one , Man thinks he is CEO of Coca-Cola or something when they are barely pulling in the revenue of a bus driver. Company is a scandal. Absolute scam. Raised money to pay themselves. Failed to deliver on everything pitched to investor's

Need to retrieve all misleading RNS’s which is probably most of them.

Feels like another CEO and BOD theft to me.

How many more times are we going to see CEO's and BOD's stealing other people's money?

Morally repugnant, morally bankrupt and it really should be criminal.

How do people like this sleep at night?

good morning all , below is just a small example of the comments from shareholders in our tg group , just to let people like freese know it’s not just me who has serious concerns about the bod

darcy 220k a year - wow i’m in the wrong job.

750k wages to make 40k selling a bottle of serum

imagine the bank managers face when this lot ask for a business loan

they had £1.7m four months ago. they are burning around £225k a month, so have around £800k now. the only people who have ever done well out of this are the board.

yep i agree. the wage bill for the work that has actually been done makes it all feel like a scam. i'm purely talking about selling the serum not kingtide. that still isn't generating any money (another missed target 🙄) each year it feels like this was never going to make a profit and was just existing to give the board a wage. even with the huge staff cuts we needed 750k a year just to cover the wage bill of the tiny handful of board members

agree. this isn't a start up anymore and the salaries do not represent the performance

even if we had a miracle and this serum was flying off the shelves it wouldn't even cover darcys wage 😂 let alone make a profit for us

guys they are creaming off the business.

when the money runs out the lights get turned off.

basically.. we haven't really invested in anything. we've just given our money to darcy

ok, just finished a good read through and am half considering taking my loss and funking off elsewhere.

the directors report is all over the place, no focus, no strategy and a lot of poor decision making leading to strategy and sales failures.

revenue £67,000 earned by nearly £1.5m in wages! (inc directors). average employee count of 5 people for the year so an average wage of £300,000. wtf are these people doing for this money?

yes cost base might have reduced in year leading to less expenses, however wages and salaries not reduced inline with expense savings on a % basis.

less expenditure means less work....but still highly paid and no shareholder value given.

from this accountants point of view...****show.

compared to 2021/2022 the directors remuneration is just increasing. one could argue that directors at the start of when this was listed contributed more to the business than what has been happening since then. completely dissproportionate salary for the amount of sales and the share price.

if it were up to me, id look at taking a derivate action under the companies act 2006 as excessive remuneration amounts to unfair prejudicial treatment to minority shareholders.