The numbers for the year to June 30 came out last Thursday. Forgive my delayed response but suffice to say that MGC (MXC) engaged in industrial scale turd polishing.
MGC Pharmaceuticals (MXC) is drowning in red flags, as I exposed HERE. Moreover, it is almost out of cash, as I noted HERE. Hence, it has today announced the seventh ramptastic RNS since May 27. Seven in six weeks is pretty good going, but the recent share slump - 2.25p six months ago, to 1.1p on May 27, to just 0.975p today - is even more telling.
The last quarterly report from MGC Pharmaceuticals (MXC) showed that, as of 31 March, it had cash of just A$ 4.004 million - having spunked just over A$ 3.9 million in that quarter. You can do the maths…
Hell: who cares about the rules anyway? This is London, cesspit central, and as for the rationale given for wholesale share dumping it is obvious tosh too. The PDMR in question is Nadya Lisovoder, the chief research office at MGC (MXC) who is a very naughty, naughty girl and needs her bottom spanking
Pot play MGC Pharmaceuticals (MXC) joined the Standard List on 9 February 2021 and has already issued more RNS releases than most companies do in a lifetime. But that is not the only red flag relating to this dual listed ASX entity now being touted by certain chatroom trolls as the next big thing. MGC is drowning in red flags and its valuation is absurd.
