Ann: Response to ASX Aware Letter , page-5

etherrazer ... with all due respect...

1. most companies in the 21st century are aware of their financial position within about 5 days of the close of the month. not 50 days later. it is IMO irresponsible at best or negligent at worst that directors did not know or supposedly made no reasonable enquiry as to the possible financial outcome.

2. mah is notorious for poor disclosure. my personal view is that they are so pre-occupied with sculpting the message and managing the truth that delivering the truth becomes a real reconciliation exercise

3. a great historical example was the breach of banking covenants pre the sale of the construction business fiasco. i recall that there was no mention of the breach until a sale had been negotiated ... about 60 ~ 75 days later.

4. a cfo worth half their salt would be way ahead of these problems long before they are announced. what bothers me is that the reporting problems persist ...

i hold because IMO even these clowns could not screw it up any more than they already have. IMO sacking the CFO will add about 5c to the price!