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I don't think I have ever invested in a company where they have changed their story as many times as this mob, one failed idea after another. I bought in 2018 and sold half my position at my breakeven price in Jan 2020, hindsight is a wonderful thing as I should dumped the rest of it as soon as they announced the StillCanna deal.
Many lessons learned from this, main one being dont buy into a company where the CEO has no clue what he is trying to achieve.
Totally agree, constantly changing the story, the company is clueless!
Gettem I sympathise with your situation as I am in a worse position than you. However I disagree that the CEO is clueless. Geremy has evolved the business to a changing market and adapted accordingly. I am confused by the opening of a clinic in Canada. That was a weird decision and we were sold out with the purchase of Stillcanna but we are not on life support yet like other companies. We are clearly making money. If Goodbody can deliver with 600 clinics we are going to be in a strong position for the future. Unfortunately, this will take time. Time that money cannot afford. We could have invested elsewhere and made a greater return. Geremy is accountable for that. The future of our invested money all depends on the success of blood testing at the moment. The lack of new clinics being registerd in the last 3 weeks suggests that it could go either way. We are all in this for the same reason so lets all hope the big man delivers...
Sold the idea as a CBD company, before most people in the UK had not even heard of CBD and now CBD is reported to be used by around 10% of UK adults and worth around £700 million per year and still growing rapidly, he has evolved the company away from its original growing market instead of concentrating on growing that business ....
I have seen no clear direction for the company over the last 3 years, no marketing, no followers on social media ... it is a shame as I have used their CBD products and they are excellent quality and well presented but who is going to buy from a company they don't know exists ... its not even on LSE exchange to allow investors to buy easily.
he guys, i totally understand displeasure but I have to be honest. I don't see any point here where Geremy or GDBY has completely developed the company away from its actual focus - CBD. Just look at the FSA nonsense. It's not GDBY's fault if it takes the authorities 2 years to find a clear line. And even now, the FSA is not in a position to implement the rules it has defined itself and to remove all products not on the list from the market as soon as possible.
GDBY itself is doing everything to complete the process. As far as I know, the FSA has everything it needs to complete the final authorisation.
During this time, the company has been set up so that they can continue to do business. In the last three months, the focus has clearly been on developing the existing clinic network towards blood testing. The process of connecting pharmacies was optimised.
If you were to look in detail at your investment, you would have noticed that GDBY seems to have implemented pilot projects with many smaller networks (10-25 pharmacies) in the last 3 months with 1-2 sites. A Geremy or Marc do not throw around 450-600 locations by the end of Q3 for nothing because as you all know GDBY is pretty conservative in forecastings.
I know it sounds stupid, but patience is still needed. If by the end of Q3, the pharmacy count does not reach at least 400-450, one should think twice.
And the listing on the LSE or a higher exchange than AQSE in the UK will only be done once the de-listing in Canada is done and GDBY has a GB ISIN. That can't happen before September. It needs approval at the AGM in early August. From then on, maybe another 4-6 weeks until this is fully implemented. As far as I know, the up-listing on the AIM/LSE costs 500k pounds.
So clench your cheeks and think positive.
Good to have you around Lebadinho. I like your positivity. I agree with your sentiment.
Quite. Lebad is our only positive outlook right now. I struggle myself, fingers crossed for us all.
As I heard GDBY is currently working on a lot of stuff in relation to the de-listing in Canada. When this is done a lot more UK stuff will come from my perspective.
Just think about:
- up-listing
- PR strategy adjustments
It is always the same. It needs one stone to get everything rolling. The first step is done by deciding to de-list in Canada. The rest will come.