Member Info for Windows345

There have been many believers posting all kinds of positive nonsense on this site for many months, up to now every single one of them is wrong.

I don’t fancy your chances much either.

JBsok
Searching for dirt is actually called research, CBX or Cannaray were never going to raise the capital needed to pull off the RTO, one look a their balance sheets confirmed that, I said at the time, who is going to fund this ?

CBX have stated they have cut back on their cash burn dramatically, how can they develop new products when they cannot spend the cash necessary to do so ?

In my view unless something else happens the share price will simply track their cash balance lower until the shares are suspended. As per Love Hemp.

In future I would take what these small start up companies say with a pinch of salt, until they prove otherwise, have a quick read of the original prospectus, by this time they should have cornered the Cannabis Market making £ millions.

Or perhaps I’m completely wrong and you’re all going to be millionaires :)

I agree Cupid, i cannot see an alternative for this company

They will never become profitable with their existing product line up, any talent that was within the company has long gone & who in their right mind would give them more cash to squander

The company is in survival mode, clinging onto the last of their cash, simply delaying the inevitable

Sorry for the grim view but I don’t see any other outcome

Ps. Thanks for your kind words Mel, hope you are well :)

This is what happens when a large shareholder needs to sell a large amount of shares in a small company with no liquidity, death by a thousand cuts.

This will obviously continue until Durban has sold their entire holding

On top of that the newest cannabis company to join the market ( Hellenic Dynamics) who took £32.3m from investors 2 months ago have already turned that into £ 11m, WOW, those guys can destroy wealth much faster than CBX

Why would anyone put fresh capital into this sector ?

JBsok
You have not answered my question, WHY will Cannaray be worth more than £ 30m ??

The last set of published accounts shows the following
£12m Revenue
£ 9M Loss

£ 3.4m Death Spiral Funding ( Debt ) issued 2021
£4.55m Death Spiral Funding ( Debt ) issued 2022

£ 3.1m cash at 31st August 2022

This company is loss making just like all other Cannabis related companies, they have £ 7.95m of debt which they are paying 10% PA interest on, which will need to be repaid in the near future

They will now be running low on cash.

So I ask again, why is this company worth more than £ 30m ??

JBsok
Why is it obvious they will be worth way in excess of 30 million ?

Sharebel
My question still remains, on the day Durban have sold their entire holding why would the share price recover ? as you say there is zero volume, the only way the share price will rise is if investors start buying them en mass

The share price is simply tracking the cash burn steadily lower, £3m cash = £3m market cap, £2m cash = £2m market cap etc. etc.
This will continue until "something else" happens , if nothing happens you can project a descending trend line steadily lower to zero

Just my thoughts

JBsok
Thank god for that,
I naively assumed with the majority of the original investors selling out, most of the directors leaving the company, sales being nonexistent & the company running out of cash would be a negative for the share price

When Durban finish selling everything will be rosy

phew !

JBsok,
Why do you think the share price will rise after the largest shareholder has sold out ?

Tread79
A lot of the doom and gloomers don’t understand the corporate world ??

These boards are a fantastic source of information for all so could you please explain to us how the corporate world works

Thanks

Member since 28th Dec 2022

Hi Amran

JBsok
Quit trying to scare shareholders ? are you having a laugh

The average CBX investor has balls of steel, they are impervious to fear

i've been trying to scare them from 7p and they are still here at 0.7p,

i'm sure they will still be here at 0.07p

:)

Just a little background information for the sector you are invested in

Looks like the newest cannabis related stock ( Held ) floated on the LSE is following the same direction as all the rest

The UK SPAC who bought Hellenic Dynamics paid £31.2 million and then raised another £1.1 million in fresh funds as part of its relisting.

So a £32.3m company now worth £16.9m. HALF of what it was worth at 8am on first day of trading.

Start up ?
This company was incorporated on the 25th August 2018,

Hardly a start up

Well said Mel, spot on
What’s the position with Paul ? Heard anything ?

Thread79
Being negative on this share is not wrong view, it is the correct view,

EVERY SINGLE INVESTOR who has purchased shares in this company since it was floated off on the London Stock Exchange, and has not sold them, is sat on an unrealised loss

Being eternally positive in life is a great thing, being eternally positive in the stock market is a dangerous thing

Tread79

I thought a £ 1,814,462 wage bill for a company that turned over £ 28,904 was quite a lot

Sorry my mistake, all perfectly normal in the bizarro world which is Cellular Goods

On top of the Directors remuneration shown below there were 5 employees

Wages and salaries £ 654,096

£ 130,819 PA............£ 2515 per week each

DOUBLE WOW

You could criticise CBX for many failings since they took £13m from investors last year, one thing they could not be accused of is being skimpy with the wages

Anna Chokina .......6/12/21 to 26/09/22 = .......42 weeks ......£ 223,077 = .........£ 5311 per week
Eric Chang ............31/08/21 to 15/04/22 = ......32 weeks .......£ 156,562 = ........£ 4892 per week
Alexix Abrahams ..31/08/21 to 21/02/22 = ......25 weeks ........£ 174,100 = ........£ 6964 per week
Simon walters. .....31/08/21 to 31/08/22 = ......52 weeks ........£ 120,000 = .......£ 2307 per week

In total, with the rest of the muppets running this outfit they have given themselves £ 773,719 in wages ( paid from shareholders money )

In return for a total 12 month revenue of £ 28,904 ...WOW

I'm thinking of applying for a job :)