Ann: Response to ASX Query, page-38

I actually think the issue is with the sentiment as opposed to the company fundamentals - of course they are linked, although let me explain how the baby was thrown out with the bathwater here.

Its evident that the blackmores and China contract revenue was not recognized this quarterly. It is also evident that Fiji based FIJ revenue took a massive hit from the zero tourism caused by the Covid country shutdowns (FIJ products are placed in major hotel outlets across the island and this formed a strong foundation for Fijian based FIJ revenue - I actually found an article from George the Ex-Sales Manager suggesting this would impact the bottom line following my investigation of the revenue over the past week).

Its also now known that $117k was delivered just 2 days after the quarter ended in their commentary of "Lumpy revenue" - if that was sent 2 days earlier we would have had a $281k quarterly revenue in the report just released.

Again, not great revenue, although with a future outlook of both China and Blackmores contracts being recognised it certainly wouldnt have caused such doom and gloom sentiment and many would have stayed on for next quarterly read out.

So you now have a company that is fully cashed up, a clear leader in its field, arguably the best management in FMCG at the helm both in Australia and China, and prime markets yet to be penetrated.

You have impatient investors spooked both by nominal revenue figures and by US election tensions, which have accelerated the freefall of the stock price and with lacking confidence from the quarterly, resulted in a zero bounce of the stock price. Its just not being met with buying support due to this uncertainty of revenues.

What this does mean though, is if you are an investor with a horizon of 2-3 months+, you will hopefully see those contracts revenue being recognised in quarterlies and if further China MOU's result in major distribution contracts FIJ will bounce - Ideally to levels you mentioned of 27-31c, double todays price.

It might be the case of being 3 months too early to an investment as opposed to the entire thesis being wrong. That will require time to tell.