Ann: 1H FY22 Results Presentation, page-284

If I was on the board, I would, as each week, month, quarter and year progressed be assessing the situation and comparing actual with budget and set the strategy for the immediate and long term future, for instance:-
Failing to meet sales targets Understanding the reasons for the failure. I would be calling for answers on quality of product, staff, economic conditions in the countries in which we were selling, pricing of the product and conditions out of control of the sales team eg pandemics. I would examine all of the above and suggest changes in anything I discovered that was within the company's control and act on correcting them in future periods.
Blow out in costs Similar to the failure in sales targets an examination of the cost of operations and marketing would be made and again throughout the trading period. As I have said in my earlier post marketing is essential and in the knowledge that the product we are selling is superior I would continue to expand the marketing base at the risk of suppressing profits in the medium term and ensure that monitoring of costs continues.
Selling of assets If I was on the board I would have voted not to acquire the building in the first place as I have a view that our core business is not real estate ownership but producing and selling medical products. I may have been out voted, but with the benefit of hindsight and with the understanding that the board saw a potential in a profit in the future of sale and lease back of the property one could not disagree. I don't think the sale of the asset would have happened if Covid had not interfered with the overseas markets
Auditors going concern. Having been on the other side of the table with auditors and fully understand their legal and responsible positions to present shareholders with the correct views of the company's financial situation and in the knowledge that the Australian accounting and auditing standards dictate what they have to put in their year end reports, I have no real comment in respect to PNV, but disagree with you that the company had to sell the building to meet the going concern requirement. There are many components involved to satisfy going concern and the provision of forward budgets for a period of twelve months from the date of the audit sign off (usually three or four months after the financial year end) is one of them. I would think PNV management is this case would have been able to demonstrate a cash positive position at the end of that twelve month period.
Stockrock it is very easy to make comment on something that has happened that maybe you do not agree with, however it is harder to look into the future and strategically plan the success of the business particularly when matters such as the pandemic is out of the Board control. As a shareholder (long term) I am honestly very happy with the boards management of the company.

Cheers