Ann: Beam Profit Update January 2023, page-55

Same for me and also I think Road Post were heavily involved to get it off the ground, e.g the back end expertise and relationships. I think the JV was a good idea and a must but just should been 50/50 and would have made running it it a heck of a lot more simple. I’m not even sure how the 70% gross is worked out and the fact it ran us into negative equity inside the entity could suggest this is too high in the formative states. Some sunk and expansions. costs still should be applied to the gross margin. Hard to really know or understand it though as we have minimal information onto how it’s all calculated out.