Cellular goods another total spoof release – it will be bankrupt well before St Valentine's day unless there is a placing
By Tom Winnifrith | Monday 13 November 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The maths here is so simple that my cat could do the sums. As at 28 February Cellular Goods (CBX) had net cash of £2.93 million. Its revenues remain almost zero and its cost base had been slashed to c£3 million. However, the company then did a quasi related party share purchase of King Tide which wants to cultivate seaweed to capture carbon and save the planet. We were promised that this company would have its first revenues by Christmas but there is no sign of that so instead it is adding to the cashburn. Come on you can do the maths….
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