Mgc Pharmaceuticals Share Discussion Threads

[the truth hurts a lot] 26/9/2023 09:01

Did they not raise funds to buy back?

The conmen at the top need to be in prison, and directors sold shares illegally.

It looks like a scam.
It smells like a scam.

It must be a scam.

[the truth hurts a lot] 26/9/2023 08:58

Posters said there were boiler room paid rampers here, I never believed it, but it seems that Loon guy is a criminal on MXC books, paid to pump and ramp shares.

How many are averaging 2p or more here? That's min -95% losses.

Many said it's a bargain after every -10% and top-up.

[tomboyb] 26/9/2023 08:20

However, despite our material operational achievements, the Company currently finds itself at a critical financial juncture. The Company's share price has failed to appreciate and underwhelming fundraising efforts during the year have not provided the Company with the medium to long term financial stability required.

Regrettably, due to market conditions, we have faced extreme difficulties in raising funds in the UK primarily, and in Australia, despite our continued progress on the research front and our proximity to our IND submissions.

In response, the Board and management have been forced to take decisive action and design a restructuring plan to secure long-term financing that will provide the Company with the necessary runway required to achieve key inflection milestones to help restore value in MGC Pharma. This plan will reduce our reliance on constant capital raising and allow us to complete an 18-month work plan.

This financial and capital restructuring will bring greater stability and re-position the Company to be more attractive for institutional support, while enabling our management team to focus on delivering our key milestones such as submitting our first IND to the FDA, increasing our sales figures, and completing our clinical programmes.

We understand this restructure will be difficult for many shareholders. However, in light of dire alternatives, the Board and Management believe this is a necessary action to help to sustain the Company's future and financial security beyond the short to immediate term.

On behalf of the Board, we hope to have your continued support as we invite you to be part of our necessary restructuring to continue on the path to provide innovative medicines globally to meet unmet medical needs.

[tomboyb] 26/9/2023 08:17

Looks like a potential wipeout for current equity -

[heatseek77] 21/9/2023 16:07

🤷due to being very sad, like the other bald fat lad 😂🤣

goforgold118 Sep '23 - 14:55 - 4826 of 4827
0 0 0
Wow this not gone bust yet . 16 names are you stupid i have one name i use why would i have 16 names .

[paulhopeful] 18/9/2023 21:05

17 now, add bbmsionlypostafter mk2.

[goforgold1] 18/9/2023 14:55

Wow this not gone bust yet . 16 names are you stupid i have one name i use why would i have 16 names .

[paulhopeful] 16/9/2023 08:03

Heatseek77: Purchaseatthetop. SEAGREEN. Davethechef. Markliddiard. Papillon. 504. BSG. Coeun. Penstocks. Sirmark. Unionhall. Howdlep. Bad gateway. Festario. Goforgold1. Jailbird. 16 All same person ( pop up Pete ) deramping here, Ramping On Enet. Eisb. BENS CREEK. Iqai. Mos Boards, and more, good luck to all genuine investors.

[heatseek77] 16/9/2023 03:43

Paulhopeful so which other aliases does goforgold use? I know of 3...

[paulhopeful] 16/9/2023 00:00

Warning Goforgold! Post on numerous Boards! Using At Least 16 Different Names: All One Person! Ramps/ Deramping proper name is Peter Knowles, POP UP PETE. Beware!!

[yombo araka] 15/9/2023 21:03

POP UP PETE ..

Shameless self promoter Peter Knowles/Festario a man who once immodestly boasted about being 'particularly well off'



Is now flogging his worthless nostrums, unctions and geegaws at a 'POP UP SHOP' (a wallpaper table and a couple of tacky banners) in a hotel lobby two afternoons a week.



A touch down market for someone 'particularly well off' don't you think?

Perhaps Fest isn't as wealthy as claimed or perhaps he's simply trying to offload a spare room full of dormant stock he's lumbered with after his ignominious dismissal from Llandudno Pier?

[sloppyjoe2] 10/9/2023 22:10

"I'm in. My trade has been split. This has to be the bottom IMHO. Give it a week or two and we should be at the races." Well? It's been a couple of weeks, and still no sign of this dog barking?

[flc] 05/9/2023 20:38

Something needs to happen Heat and soon. I like MXC but we all know the losses are not sustainable and cash flow looks desperate at the moment. I think a miracle would be a better option than heavy discounting. Interesting to see what happens over the next few months.

[the mugger] 01/9/2023 08:45

Shares dilution multiplying like rabbits



Ordinary shares on issue, fully paid 3,350,692,950
2,728,293,852 103,709,600
97,251,478
Unissued shares -
- -
-
3,350,692,950
2,728,293,852 103,709,600
97,251,478

[the mugger] 01/9/2023 08:44

CURRENT ASSETS Cash and cash equivalents
239,821

[the mugger] 01/9/2023 08:43

Operating loss (21,100,326)

[the mugger] 01/9/2023 08:43

Bust by December



Corporate • MGC completed a successful UK led fundraising, raising a total of £1,204,525 (A$2,204,281) supported by new and existing shareholders, brokers, and high net worth individuals in both the UK and Australia.

[the mugger] 01/9/2023 08:42

After a strategic review of operations, the board implemented further cost reductions, consisting of a ~35% reduction in director fees, and key executive officers of the Company agreeing to a 10-20% reduction in their cash remuneration.

[heatseek77] 24/8/2023 08:00

Sloppy from chart side certainly looks like bottom creation in June July Aug but see in time funny enough