Ann: Appendix 4C - quarterly, page-24

Stayer, I have looked at the quarterly and compared it to last quarter and last year and there is no or little growth. Total sales for the quarter is the same as last quarter. The % growth is impressive as the current quarter has Caprilac in it (bought the business Dec last year) and last year Qrt did not. If you strip this out you will see that BUB products, regardless of all the hype, Mtk and Advert has little $ growth.
This quarter has only $1.6m overseas sales. The margins for all their products are paper thin.
Advert and Mkt is running at $455k a quarter and they expect to double this next quarter ( desperation?)
Management talks about cash reserves. I think this term is not right. They have $6.5m in the bank at 30/9, this is a reserve! The other $25m is an overdraft facility. They burnt $4.1m in cash last quarter and this quarter $8.5m. At this rate their RESERVE of $6.5m is gone before Xmas and they dipping into their overdraft and start paying interest probably around 5-6% on this BORROWED money.
I have taken the above all from BUB's ASX releases but AIMO.