At around 4pm our time, the Great Lenigas North American Promote, LGC Capital (formerly Knowlton Capital, formerly Leni Gas Cuba, formerly…) is due to go live with an investor presentation and live Q&A call-in to the management team. As far as I can see all the Cuban assets have been written off and, these days, LGC is a company investing in cannabis plays. Whatever floats your boat.
Legalised cannabis is right up there with The Internet of Things and Blockchain Technology as "hot" stockmarket promotes right now. Anyone who wants to grab the interest of investors, especially Stateside, is getting into the pot game. Cometh the day, cometh the man... step forward Big Dave Lenigas.
It is just over a year since my pal David Lenigas, listed Leni Gas Cuba (LGC) on ISDX. It has subsequently undertaken a reverse takeoverof Knowlton Capital on 12 July 2016 to obtain a listing on the Toronto TSX Venture Exchange. Following the recent publication of its results, I decided to have a butchers. To be fair to Lenigas, he has made one cracking investment. But the overall picture is ...mixed.
As Cynical Bear showed HERE, Leni Gas Cuba (CUBA) is running out of cash fast. Given its monstrous record of lying to investors, buying worthless assets from its main players without telling anyone and of spunking cash only a total fool will back the looming and inevitable placing. So what to do? Aha, piss more away on another crap deal. And so..
Friday was eventful day for Leni Gas Cuba (CUBA) with unaudited interim results for the six months ended 31 March 2016 being announced along with the Posting of Scheme Circular in connection with potential Takeover by Canadian listed Knowlton Capital Inc. The proposed Merger values each Cuba share at 6.25 pence per share as stated below - for those who will believe any old shit:
With Leni Gas Cuba (CUBA) posting its half-year results and its scheme circular for its RTO with Knowlton on Friday, it is a good to time to reflect on what delights the Canadians have in store.
On Friday - ahead of the bank holiday weekend - at no-one-is-watching o’clock (natch) ISDX-listed Leni Gas Cuba (CUBA) updated twice on its proposed take-over by Canadian TSX-V listed Knowlton Capital Inc. There is much to mull over there, but we have also recently had interim numbers from Knowlton and the implications for those caught in the lobster-pot of CUBA are horrific – anyone who handed over more than the 0.01p that David Lenigas paid for the bulk of his shares, that is.
I am meant to be on a summer truce with David Lenigas so I shall interpret today's RNS from Lenigas Cuba (CUBA) as poor David being hoodwinked by the company he is meant to have done a JV with. That company is Commercial Funded Solar Ltd.
