Ann: Cleansing Notice , page-5

AHHHHG!!
The Shakespearean Tragedy is back!

Tell me Rosencrantz so that I can better understand which part of the director’s performance is "Woeful"?

Perhaps it is:

• The fact that the company is still going? or
• The fact that all the loss making businesses were disposed of; or
• The fact that all the bludging consultants were terminated and the financial wastage stopped? or
• The fact that the directors funded the company in the worst financial conditions since 1934? or
• The fact that the company now has a business using the technology which will become cash flow positive shortly? or
• The fact that the Managing Director lives in Thailand where the business is; instead of swanning all over the world at huge expenses chasing mythical business? or
• The fact that other Asian markets have been opened up for the business? or
• The fact that other applications have been developed such as with L'Oreal? or
• The fact that real work has been done on further development of the technology? or
• The fact that the company now holds a 25% interest in Kollakorn that is worth considerably more now than when purchased and that and will continue to increase in value?

Oh I see it’s the share price!!!

Well let's analyse this:

• We know from the reports to the ASX that MIKOH has drawn down $1.2 million from La Jolla and that all that money has been invested in Kollakorn at a price well under current valuation giving MIKOH a capital gain that outweighs the dilution caused by the issues;
• We know from the ASX reports that $500,000 of the convertible notes are still not converted despite the common thread that La Jolla is raping and pillaging MIKOH;
• We can see that around a million a day (sometimes less) get traded at 1.5 to 1.7 cents – let's see yes that $15,000 - had to check that because it was so low!

I think this says more about the buying of the stock than the selling by La Jolla! But you would not admit that I am sure because it does not support your contention of the director’s strategy being “woeful”!

In my view the directors are doing the right thing – getting on with the job. When the company becomes cash flow positive and starts to make profits the real value in MIKOH will be evident and the share price will re-rate and as in Hamlet, Rosencrantz’s true colours will be seen for what they are!