Ann: Appendix 4C and Quarterly Activities Report, page-63

A business doesn't operate LT if expenses are higher than revenue. Anyone can increase revenue, you just spend more on sales people and marketing. It doesn't mean anything unless there is margin. How would you like working in a business that spent a tonne on everything - wages, offices, corporate expenses, lavish Xmas parties ect and then one day the money dried up and they had to cut any further pay rises or even worse made you redundant. Money doesn't grow on trees as they say.

This isn't to say any company that is making a loss is a lost cause. Think Xero, Amazon, Ike, APT - however the difference is as revenue grows costs are scaling. I.e. they are able to increase revenue through investing less capital. However, with PBH the losses are getting larger and larger. So what if revenue grows? If they give me a free $50 bet and I lose, they say they had a 'net winning margin' well I didn't even put up the money in the first place so it's misleading isn't it.

Some people on here to be fair make good points including you but others are taking a gamble (pun intended), and like gambling, if they're up "it's all good, i'm the man" but in time they lose and I'm here to remind them of that.