Member Info for neon

Hi

Sorry but could you please show me the RNS where gfinity raised money at 0.5p please? They raised funds at 1p on 2nd April 2020, in the middle of the pandemic. Are you talking about this raise? If yes then please correct your post. It’s not nice to scaremonger BIDS investors in this way. Who knows, bids might secure debt funding or other means of funding to avoid equity raise. Good people lost money because of a certain CEO, it’s really not nice to keep poking who are already suffering.

Yes, Justin Waite got carried away and went very bullish but when the result came out, it was next to nothing that the company said. From memory, bids said they will earn £5-£6 million but in reality raised few hundred thousands which was a shock for everybody. "Just sell if the story changes" as JW pointed it out, lots of people sold out on the back of this news. I was late in the party, bought just over 4p and sold early but the SP went over 14p at one point but ofcourse people stayed invested because they believed the story and you know the rest.

Regardless, Draper can't just block legit shareholder concerns, he must answer them. If he can't then he must leave and allow somebody to join who can. GFIN was loss making for years so the last BoD were kicked out allowing Clarkie to join who has changed the business and for the first time ever it's making profit. BIDS shareholders deserve something similar.

GL

bb2609

Honestly I sold out when he blocked me for asking legit questions. Asked Derek wise who said he will raise it with the company but failed to update me after that and ofcourse he is now gone. This company needs money to run itself since it's still loss making and should have raised when the SP was over 4p and now this funding issue is dragging down even further. NOBODY is above the law and CEO's must answer legit questions/concerns therefor send another email and write it politely. If you don't get any reply, use a solicitor service (might cost a bit) but that way they will be forced to answer your legit concerns.

GL

Considering the current SP, 200m shares at 3.50p will give £7m before tax right guys which should be enough for another year, right guys? Just guessing

“First breath normally for 5 secs, then take some air in, hold, take some more air in, hold, try taking some in without letting any out, try taking more you in, you feel it? This is how asthmatic/ pulmonary patients feel when they fail to breath properly” – advised by my first aid trainer literally last week. Just imagine what the covid patients are going through now with breathing difficulties every day. POLX has created a tech that will enable pharmas, doctors, hospital to look into this issue in great details and help those patients who will probably be living with it for the rest of their lives. Think about the sheet benefits this tech will deliver to us all.

Thanks CBDBull

As they say, expect the worst but hope for the best!

Let’s see

GL

meaning of classA and classB

I just can't get my head around it:

"The performance conditions relating to the performance rights are as follows:

Class A: If and once the price per share of the Company, at any time prior to or on 1 April 2022, has a 10-trading day volume weighted average price (VWAP) equal to or exceeding 125% of the VWAP during 10 trading days before 1 April 2021. The 10-day VWAP up to 1 April 2021 is 7.0c.

Class B: If and once the price per share of the Company, at any time prior to or on 1 April 2023, has a 10-trading day volume weighted average price (VWAP) equal to or exceeding 150% of the VWAP during 10 trading days before 1 April 2021. The 10-day VWAP up to 1 April 2021 is 7.0c.

https://www.lse.co.uk/rns/MXC/corporate-update-tyait3xz5zt73hr.html

Executive Remuneration

In accordance with Listing Rule 3.10.3, The Company advises that the Remuneration Committee and Board of Directors have resolved to approve the following changes to the Director's services agreement in relation to their remuneration in accordance with their annual performance review effective 1 March 2021.

The material terms for Mr. Brett Mitchell - Executive Chairman remain as previously announced, the adjustments to his service agreement with Sibella Capital Pty Ltd are as follows;

Salary - £14,000 per month

2021/22 Performance Rights - 7.5 million Class A and 17.5 million Class B performance rights, as set out above and subject to shareholder approval at the Company's next general meeting.

The material terms for Mr. Roby Zomer - Managing Director remain as previously announced, the adjustments to his service agreement with Chitta Lu Limited are as follows;

Salary - £14,500 per month

2021/22 Performance Rights - 7.5 million Class A and 17.5 million Class B performance rights, as set out above and subject to shareholder approval at the Company's next general meeting.

https://www.lse.co.uk/rns/MXC/corporate-update-tyait3xz5zt73hr.html

That's nice, thanks for posting Irontaz

Well, companies get listed so that they can raise funds to pay for their expansion otherwise what's the point in diluting the company owners/directors interests? Provided the business can reach profitability within a given period of time and can convince the market that they are worth investing, raising funds won't be an issue in my view. Cannabis is a new and hot sector in UK market, no doubt but It all depends on how much they have to raise, at what price to reach that breakeven point or may be even getting into profitability. I'm sure we don't have to wait that long to find out.

GLA

BigBobBet

I did further digging in their finances and got some cold feeling this evening! And then ended up with this clip (I must warn it might scare the existing investors a bit if you aren’t aware of this side of the story): https://youtu.be/2OrOoiJoFbA

I guess arguably this is why the share price has gone down and few hedge funds bought some shares to participate in their upcoming fund raise? I scaled in with a small amount only so considering to wait until further financing announcements. Perhaps I’m getting confused now… oh bugger

“ Malta Enterprise, the government agency responsible for attracting foreign investment, together with Malta Industrial Parks, has identified 4,000 square kilometres of land for MXC's facility.”

my goodness, 4000 square kilometres! I guess scaling up won't be an issue then lol

Thanks jackdaw26! :)

I see, that gives us what, just under 3 months. And how easy it will be to scale up the production there to increase sales? Any idea?

Thanks

27th April RNS said, "MGC Pharma is now in an excellent position to realise its potential and build on the foundations that have been set in the past 12 months, as we remain on target to reach break even this financial year."

so is it before or after this Malta facility?

Guys, any idea when they will start production there? Realistically I mean

you are right, it does work.

the problem is with my bloody firewall.

sorry

the link doesn't work mate