Ann: Trading Halt, page-38

LT I feel thats a pretty optimistic assessment. They have completely drawn down their $12mil loan, only have $8.2mil left and yet still need to spend $6-8mil to complete the infant formula plant they were hoping to have operational by the second half of this year but only recently got permits approved and still havent completed building plan.

Their recent announcement subtly mentions that mr Flahey who was paid in excess of $1mil for acquisition of his brand and formulations and trumpeted as there guiding force for IMF has moved on less than nine months after joining.

I’m assuming there is going to be a significantly discounted and dilutive capital raise shortly, introduction of new jv partner or similar on very poor terms or they announce abandonment/sale of their infant aspirations. Likely followed after announcememts aimed at pumping the share price as much as possible.

Its a shame, I like the strategy but just dont feel current board has the experience required to execute.