Desperate to pump its share price as the fat Lady has pencilled in a gig for well before Christmas, Cellular Goods (CBX), David Beckham’s failed CBD play has announced more complete horse on the seaweed front. Make no mistake, its intent here is to deceive as any desk-top research will show.
The David Beckham backed POS Cellular Goods (CBX) has still refused to explain why it has given away 16% of its equity to a crony mate of its founders Bixby & Edwards (who have since IPO dumped all their shares) for a start up in the seaweed to net zero space with no business. And so as it hurtles towards running out of cash by Christmas, it is trying to spoof investors to allow the spivs at Novum to get a bailout placing away. Today there is an obvious spoof.
I do not know why I have bothered interacting with someone claiming to represent shareholders mugged by Cellular Goods (CBX)? @CBXFuture. I guess I am a nice guy,. in even giving this chap the time of day as he is a long-term shareholder who raves about the products which do not sell. He is going through one of the penultimate stages of grief as a share price collapses.
Last week I discussed how the purchase by Cellular Goods (CBX) of start up Singapore based seaweed to net carbon zero POS company King Tide Carbon PTE. I showed how the transaction made no strategic sense and will accelerate the already disastrous cash burn ensuring that the Fat Lady is gigging well before Santa rewards all the good little boys and girls while handing lumps of coal to the directors and promoters of Cellular. But it gets worse, far worse.
The reality is that after numerous claims of an imminent big ramp up in sales, CBD company Cellular Goods(CBX) is still selling almost no product. It seems that folks will not hand over three or four ponies for a small jar of potion even if it has the endorsement of a man who was once good at kicking a football.
David Beckham backed disastrous CBD play Cellular Goods (CBX) has today served up truly disastrous inters which – whatever the oafs in charge insist – indicates very clearly that the company will run out of money. The level of delusion is just mind numbing. Take this comment on sales since the February 28 half year end:
The proposed RTO with Cannary Limited never made sense. Cannary – as fronted on nauseating TV ads with Claudia Winkleman – had a horrible balance sheet with huge liabilities and is burning cash. Cellular Goods (CBX) has cash ( £4.37 million at August 31) but spunked it at £500,000 a month last year. So this proposed deal was like two drunks propping each other up. But now the transaction announced on 26 September is OFF. What next?
After hours yesterday there came another TR1 from the chancers Jonathan Bixby and Mike Edwards, aka Durban Holdings, the folks who paid just 0.1p per share to obtain a stake of c31% in Cellular Goods (CBX) at the time of its 5p IPO in late 2021. Oh dear. I have told you repeatedly that this would be messy.
At the time of the IPO of David Beckham promoted CBD play Cellular Goods (CBX) in late 2021, the chancers Mike Edwards and Jonathan Bixby held 31% of the equity. Today they are at sub 7.7% and are still dumping. Soon they will be out. But with the IPO at 5p why are they selling at 0.7p and lower? Some, it appears, are more equal than others.
Oh boy this is ugly. The CBD play backed by arch LGBTQ hypocrite David Beckham, Cellular Goods (CBX), is rapidly running out of cash and wants to merge with another CBD company with stiff liabilities and which is burning cash faster than star chef (LMFAO) Brooklyn Beckham can burn his cooking. So quite obviously a major fund raising is needed within months to stave off bankruptcy. However…..
The David Beckham backed CBD play Cellular Goods (CBX) was listed at 5p in February 2021. Today the shares are plunging ( off 21% ) to 0.75p and things are only going to get worse. I did warn you. Let’s start with the rats.
I wish Bruna Nikolla the very best of luck as she becomes the new CFO at Cellular Goods (CBX) just in time to have a good chat with the auditors about whether this company can be viewed as a going concern.
