Following the publication of my red flag dossier earlier this year, anyone owning shares in MGC Pharmaceuticals (MXC) was fully warned of the need to lube up. I hope they did. The shares were 2.25p back on 11 January when I warned you that this was a £70 million dog from the scholars and gentleman at Turner Pope. They are now just 0.825p but after another red flag admission today they are still a monstrous sell.
The numbers for the year to June 30 came out last Thursday. Forgive my delayed response but suffice to say that MGC (MXC) engaged in industrial scale turd polishing.
MGC Pharmaceuticals (MXC) is drowning in red flags, as I exposed HERE. Moreover, it is almost out of cash, as I noted HERE. Hence, it has today announced the seventh ramptastic RNS since May 27. Seven in six weeks is pretty good going, but the recent share slump - 2.25p six months ago, to 1.1p on May 27, to just 0.975p today - is even more telling.
The last quarterly report from MGC Pharmaceuticals (MXC) showed that, as of 31 March, it had cash of just A$ 4.004 million - having spunked just over A$ 3.9 million in that quarter. You can do the maths…
Hell: who cares about the rules anyway? This is London, cesspit central, and as for the rationale given for wholesale share dumping it is obvious tosh too. The PDMR in question is Nadya Lisovoder, the chief research office at MGC (MXC) who is a very naughty, naughty girl and needs her bottom spanking
