Ann: FY22 Investor briefing, page-8

@kickit2me

It appeared that the ex-founder sold a bit more. It also appeared the majority of the top10 outsiders including one or two new names are the same group of individuals, so no institution has taken any position yet.

The presentation has only 5 pages out of 19 which have more words than pictures, this was ok if GD is doing the shareholder briefing at the same time as before, but seems to lack depth as a stand-alone presentation.

The title of the briefing is called FY22 investor briefing, similar to the announcement of the "allocation of incentive awards", with no actual numbers, revenue, EBITDA, targets, etc.

Interestingly, all the performance shares are linked to the performance of FY23, and without the actual revenue numbers. When I saw this, I sold a little bit more in 9s.

So, to link these things together, I have a feeling that GD realized that the products will not bring the company profitability in Australia alone, particularly with Covid business disruptions. So it is the first time he brings out the US market, which they will have to first make an acquisition in order to find a base, noting the way they did in NZ was not the right way (i.e. they partnered with a marketing agency rather than a JV), therefore, it will take FY22 to wash all these out.

Although, it is not a good sign the excited GD forgot to tell investors how was the company trading in July.