"In the last 2 years they have bought GBC and True Solutions.You couldn't have bought 2 better companies...both are beauty/wellness companies that sell directly into the massive pharmaceutical, cosmetic chains."
According to recent ASX announcement, True Solutions lost Hydropeptide distribution agreement. That was one of two skin care ranges they distribute and their major source of income. So, my question is what do they actually distribute and how much revenue do they generate?? They would be bleeding on the amount of stock they took for the sale of their business to WNB!
Check out this: https://www.professionalbeauty.com.au/news/blc-cosmetics-announced-as-exclusive-distributor-of-hydropeptide/
Why did they lose this contract 10 months early? This was 30% of revenue!
https://themarketherald.com.au/wellness-and-beauty-asxwnb-distributor-drops-contract-early-2020-02-06/
Tell me again why you think True Solutions is such a great company?
As for GBCo, I am still waiting to be told where I can buy Elle product and of course time will tell on the Micro 19. In the meantime, don't be under the illusion that Thorney get everything right or have the midas touch. The lifeline here will not be long so I suggest the company only has weeks to recapitalise - again! Atleast there are not as many staff to pay or Board members to compensate. They have all jumped...
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