The statements in the announcements are different and if the latest announcement is correct you appear to be correct. The next announcement could have different wording, to confuse the situation even more, in my opinion this has been a continual problem with communication from this business.
The CEO letter (30 April 2019) stated:
This means reducing our quarterly cost base on the Buddy Platform and Buddy Group entities to A$1.2M per quarter,
and also:
We have reduced our cost base for Buddy Platform and Buddy Group down to A$1.2M per quarter.
The market update (7 June 2019) stated:
This brings the net cash burn of the commercial business back to A$1.2 million per quarter
beginning in June 2019 on a net burn of A$1.2million per quarter
The following statement appears to have been false:
We have reduced our cost base for Buddy Platform and Buddy Group down to A$1.2M per quarter.
In my opinion we need a CEO with better communication skills !!
BUD Price at posting:
5.4¢ Sentiment: None Disclosure: Held
