RE:RE:RE:Blox Labs- Liberty invested in approved forward split 3:1Completely agree - and I've said this before. Our risk exposure on this deal is low. It's just one of many threads we have going, with a relatively minimal investment.
That doesn't change my need for something tangible and positive to rebuild faith in Blox Labs, particularly with the cannabis platform whitepaper/prototype/MVP. We don't have years to get this implemented and rolled out.
Excerpt from one of the last news releases from them a few months ago...
"
Harald Seemann has resigned as Chief Executive Officer and Director of the Company, effective immediately. Mr. Seemann has advised the Company that he is the subject of a regulatory investigation being conducted by the Ontario Securities Commission. Mr. Seemann is unable to provide further information relating to the regulatory investigation at this time." As I said, these guys are not in my list of well-managed companies with integrity. We are ATTACHED through partnership with these guys. I personally don't like that.
If they are turning the ship around, awesome. I love a comeback story. For folks who believe that this is the case, the stock is down nearly 2000% on the year - sounds like a fantastic entry.
I believe that LIB is on the right track here getting something ike this on their roadmap, but partenered with the wrong company to bring it to fruition.
Again, my 0.02.
Ovechkin wrote: 10 Fingers I know you’re not a fan of Blox, but the BC Governmemt wants distributors to have advanced technological practice. Regardless, of fluff or not this does check the box. Now, I know you have issues with their deliverables etc but I’m not going to comment on Blox as a business. From Libertys perspective our agreement is that well buy equity in the form of stock in Blox and in exchange they will develop CannaBlox for us. Now, I believe for every phase it will be $50,000 in stock will be bought. I’m under the impression phase 1 is complete of 3 phases. The float of Blox was low - it’s still at a manageable of 127 million shares. I believe after this we’ll own either 666,666 shares if we got in after the split or 1.9 million if we got in before!
Its a very low risk investment and as essentially buy equity for a product. We gain product + a small share of a company.. what’s not to like from a deal perspective?