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MGC Pharmaceuticals – do the maths dummies, I'm 99.2% ahead on this bear call and it is going to go from £15m now to zero

By Tom Winnifrith | Wednesday 31 January 2024

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.

On November 1 2022, I published a red flags dossier on Turner Pope spoof MGC Pharmaceuticals (MXC) with the shares at 2.25p giving market cap of £70 million. Wind forward 15 months and after a 1000 for 1 consolidation the shares are 18p meaning that those who mocked my advice have lost 99.2% of their hard earned. But so many gazillion pieces of worthless confetti have been issued that the market cap is still £15 million and today’s quarterlies suggest that is way too high as yet another cash crisis looms.
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