Ann: Appendix 4C June 2018 Quarter, page-76

The 4c is beyond disappointing.

Having a read through the full "Momentum is Building" thread should be compulsory for all OBJ holders now to see what sentiment and comments were happening in the past month.  But very typical of OBJ posts on here - full of hope and optimism, but at the end of the day, reality bites.  Then it is about looking forward to the next 4c with optimism and talking about potential of new products that are still in discussion.

One comment in the "Momentum is Building" thread stands out for me:

So, what does the 4c tell us?  There is no exponential growth and the deal is horrible for OBJ.
Maybe a rethink of what the "wholesale price" is that royalties are received on (maybe closer to 25% of the retail price?) and that the 2-3% royalty range may be a lot closer to 2%.

From experience, we know that it takes years for any meaningful revenue to come from new products and the Second Technology remains a mystery.  The new Directors have yet to prove themselves, with one new Director saying he wanted to "under promise and over deliver".  Well, there has been no promises or forecasts (beyond his wild vision to have 5x$100m businesses) and the delivery has been horrible thanks to the 4c.  The up coming Annual Report will be interesting to read, but I just can't see OBJ changing its spots.