Ann: 1PG Quarterly Commentary and Appendix 4C - 30 April 2016-1PG.AX, page-22

Im always suspicious when the quarterly comes out after market close. There is a lot of padding which sadly doesn't disguise the fact that this is a particularly poor result for a company that should be ramping into its growth phase by now.

While I applaud the fact that they are trying to restrain cash burn it is alarming how rapid their spend is.

I don't know where fair value is going to be here but this is going to get uglier first.