Ann: Annual Report to shareholders, page-88

This is the biggest red flat to me. When I look through the annual report, their performance rights are directly linked to revenue and EBITDA, that is why they worked so hard to try to achieve these two, with the cost of damage the business and shareholder value. It is now more clear to me that they are playing the accountant tricks for their own benefits. Lack of FY25 guidance is another good example, why? Because last year they can simple to the math and show the market the revenue is growing (due to acquisition) significantly, but now, it is hard for them to tell the market that next year the revenue will be the same or a little bit higher than this year, that will cause more panic for the market. So the SP now is reflecting the problem for the debt but when the market find out that this is not a growth stock any more, SP will go down further for sure.

It looks really ugly now and I am not sure how the management could turn this around, all they are saying, this could be a multi bagger in next few years.....

The CEO should step down.