Mgc Pharmaceuticals Share Discussion Threads

[looneytune] 28/2/2022 21:18

MGC PHARMACEUTICALS LTD
Consolidated Interim Financial Report 31 December 2021
Directors’ Report
The directors submit the consolidated interim financial report for MGC Pharmaceuticals and its controlled entities (the “Group” or “MGC Pharma”) for the half-year ended 31 December 2021.
Directors
The names of directors who held office during or since the end of the half-year, all still currently hold office:
Director Title
Appointment Date
Brett Mitchell Roby Zomer Nativ Segev Ross Walker Stephen Parker Evan Hayes
Executive Chairman
Managing Director & CEO
Non-Executive Director
Non-Executive Director & Head of Medical Advisory Board
Non-Executive Director & Chairman of the Corporate Governance Committees Non-Executive Director & Strategic Advisor
4 April 2013 15 February 2016 15 February 2016 15 February 2016 13 March 2019 1 September 2020
Operating Results
The consolidated losses for the Group after providing for income tax from continuing operations amounted to $7,604,868 (31 Dec 2020: $5,926,816).
Dividends Paid or Recommended
No dividends have been paid or declared for payment during the financial period.
Review of Operations
Key Highlights:
• • • • • •
Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented:
“The second half of 2021 saw the completion of a number of projects which have occupied the Company’s focus for some time and has proved our dedicated commitment to achieving our goals. The Malta production facility has been finished and is due to be commissioned imminently, MGC Pharma has been granted a certificate of Free Trade in Europe for the company’s ArtemiCTM supplement, and the UK has now approved CannEpil+ for import. Further to this we have made material strides in advancing Emergency Use Authorisation in multiple jurisdictions including the USA and India, as well as progressing stage II and III trials across the world.
As a company and management team, we are focused on gaining regulatory approval for our pharmaceutical products. Whilst this process is not always smooth, I remain confident in our products and our ability to achieve just this, which will result in better outcomes for patients globally.”
The period saw the Company achieve its strongest half-year result to date, with sales of ~$2.56 million. This figure excludes the US$750,000 ($1.06 million) deposit received from AMC Holdings Inc (AMC) during the period, which will be recognised as revenue when the products are dispatched. The increase in sales revenue was largely influenced by the strong sales of ArtemiCTM, the Company’s COVID-19 supplement, with sales of ArtemiCTM during the period totalling ~$1.06 million, representing ~45% of product sales for the period (the balance of sales amounting to consulting services). MGC Pharma also achieved ~$1.25 million of cannabinoid products sales. The balance of revenue outside of the abovementioned product sales relates to consultancy services provided to third parties from its wholly owned Clinical Research Organisation, MedicaNL.
Strong sales of $2.56 million for the half-year
£5.5 ($10.4) million capital raise completed in December 2021
US$24 ($33) million supply and distribution agreement signed with US-based company, AMC Holdings
Certificate of Free Trade in Europe approved for ArtemiC
Submission of Cannabinoid Drug Delivery System Patent to the Slovenian Intellectual Property Office
Completion of Malta Production Facility on schedule and within budget
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[ashleyjv] 28/2/2022 18:18

"We were delighted to welcome Eyal Sela, #Israel's ambassador to Malta, to our CimetrA™ production facility.

Site Manager Karl gave a guided tour as they discussed what's in store for MGC Pharmaceuticals in 2022."

[heatseek77] 28/2/2022 16:53

Hiya Kirky how you been..

[kirk 6] 28/2/2022 16:52

Certainly huge upside If they hit anywhere near that revenue !Wow could be a turn this one !Roll on 7p

[heatseek77] 28/2/2022 13:40

Jonah, probably going to be mainly ArtemiC based revenue, although cannipil in Ireland could also be doing better than we know currently?

[jonah292] 26/2/2022 12:51

Do you think they'll hit that revenue number with only 4 months left of their year to go? Looks like a challenge to me given most trials haven't started yet?

[flc] 26/2/2022 12:38

Canaccord still have MXC as a speculative buy with a target of 7.2p. Should be achievable if they hit 2022 estimated revenue of c$20m so next couple of quarters will be crucial. Possibly another raise towards back end of the year if they miss revenue targets.

[peaky01] 26/2/2022 09:12

Will be 10p by end of the year. Much decent news will happen.

[heatseek77] 26/2/2022 08:41

Ant same, blue all my life but Boris is a clown, he was awful when he was in charge of London.
Cmon you Tavers👍 and AS
Looney a director buy would be a good sign but tbh Naved and Roby own between 50-80m I believe so not sure..
GLA

[beltd] 25/2/2022 16:43

Meow meow poing poing?

[looneytune] 25/2/2022 16:32

If I were the directors and I believed in the product I would say that now would be a great time to buy in.
Have a nice weekend, stay safe Ukraine!

[flc] 25/2/2022 16:30

I bet Silly Billy on the Ponzi thread feels a bit like a silly billy today.

[ant15] 25/2/2022 16:27

There always a place for him in Matilda perhaps as Boris Bogtrotter ( alias Bruce ) had his cake too at one of his parties perhaps.Best to keep a sense of humour Heat. Slight rise today long may it last. I'm Tory through and through but he is a real disappointment...hardly the level headed statesman we now require to restore the country's International image. Have a good w/e Heat I'll be checking the weekend results and watching Tavistock AFC move a bit nearer promotion, who knows they might do another Accrington Stanley.

[heatseek77] 25/2/2022 08:59

Good start, Ant I wish we could just lose boris somewhere 🤞

[heatseek77] 25/2/2022 01:09

Ant let's hope we don't get to an end game, US Market recovered well

[peaky01] 24/2/2022 22:30

12 + 12 = ?

[silly billy] 24/2/2022 19:09

I suspect full-time tomorrow at 16:30, the red team wins a 0.8p-0.9p offer.

who's to blame for Tumeric crashing?

Yes, Putin affects Tumeric share price.

[ant15] 24/2/2022 18:41

Heat,Toe is still in place but sore! Its difficult kicking the wife out of bed in the morning to cook my breakfast!, only joking of course If she reads this she'll be kicking me out. My 3 year old thinks stamping on it is great fun though. In for a rough time here for a while longer as International Pressures mount, well at least from some EU and Nato countries, BJ's response so far, pathetic. Perhaps its time for more partying at No 10 as this current situation diffuses his mess. On a more serious note Putin is a very real problem and his troops are less than 2 hours away from Kyiv Lets all hope this war doesn't escalate out of control.

[heatseek77] 24/2/2022 16:34

Ant a palace crazy offer isn't it, I don't think anyone would surprised that he'd moles gathering information for him. On to more important topic how's your toe doing?

[ant15] 24/2/2022 12:30

Heat very sensibly RB's commercial director at Virgin declined an offer of a Palace in the Nevsky Prospect ( they were all occupied but would have been emptied ) as the copyright laws were non existent. I asked how he had come into information as all my dealings with Sobchak had been of a confidential nature and an interpreter made light of the fact that he had "moles" in the mayor's office. My point as above is that he really has no discernible conscience and knows that the West needs GAS. Taiwan is also a real problem that he has already shown he is sympathetic to. World Leaders dealing with him have no idea how to appease him or his aspirations for a new world order.

[heatseek77] 24/2/2022 11:29

Hi Ant, all you've written so true, I heard when he was deputy mayor the building he was in was surrounded and they spoke to Moscow for help which didn't come and this was the point he decided his new path - probably the richest man in the world and the most powerful.