Ann: Appendix 4C - quarterly, page-51

Excellent post.

I will be making a detailed post later tonight on my thoughts regarding the Quarterly. Stay tuned!


However, I will now briefly address the misinformation that was posted yesterday.

@holymoly you have commented 'on top of that, ohms look to be basically free to whoever wants one.' No, BUD has only given one school free Ohm use - Whitefish in Montana. It is a marketing strategy to get a high profile case study to demonstrate to future customers.

@dcmmm you have made several incorrect or misleading comments.
(1) You stated 'disclosure is getting worse'. This is unfair. Firstly, the ASX has been hounding BUD, and BUD (IMO) did an excellent job of comprehensively replying to ASX's queries. We know more about BUD now than ever before. Secondly, BUD has provided very clear and compelling reasons for not sharing certain information, because it is confidential information property of their distribution partners and also because it may assist competitors.

(2) You stated 'the estimations just seem like round numbers with no explanation'. This is ridiculous. Of course, they cannot precisely predict exactly how many Ohms will need to be re-ordered, how many new staff they might hire, how many other expenses (flights, meetings, etc) will need to be expensed in the coming quarter. They can only estimate - which they have!

(3) You stated 'They were so definite multiple times that they would generate revenues to be recognised at Q4 2018'. This is also unfair. BUD could not have predicted that the EU would release completely new laws on the matter. GB dealt with your comment on this well - refer to post #32779480 on the matter.

(4) You stated 'Seems to shed light on management practices of loading up unprofitable customers just to meet their milestones (milestones 1 and 2 met wayyy ahead of schedule) and receive performance rights before getting rid of customers again'. This is completely and utterly ludicrous. As a shareholder, I would hope you would know better. (If I had a BUD share for every time I had to explain the performance to someone on this forum, I might have as many shares as Dave?!) The 'performance shares' are not typical performance shares. They are performance shares in name only. What they really are is a relic of the IPO. Buddy Platform was formerly a private company, incorporated in 2011. BUD did not IPO on ASX until 2015. In exchange for listing, Dave gave up ownership of the company. He traded ownership for the IPO and retained a stake in the company through the performance shares. Note, prior to the IPO he did not earn a salary from running BUD.