Ann: Change of Director's Interest Notice, page-64

This is indeed brilliant work from Morningstar. They are capitalising Norwood at over $50 million. This is for a company with negative assets, negative cash flow of $7000 daily, abysmal management and a single product which no-one uses, not even our cousins in Aotearoa.

Here's what they say in support of their analysis: ""Norwood Systems holds an Extreme quantitative uncertainty rating. The firm's uncertainty rating changed from Very High to Extreme after 27/02/2024."

Here's what Morningstar says about itself: "We've empowered investors all over the world, and we're continuing to look for new ways to help people achieve financial security." They have to be kidding.

You might like, bellpro2002, to point in the Morningstar report to any positivity about Norwood. There is none. Their valuation is pulled out of a hat.