Wayne promised no CR, page-14

There wasn't supposed to be another one, but it was a tight game. Cash flow positive was initially supposed to be 6 months earlier, but was pushed back with the change of financial year. So that was the first target that moved. Investors knew that.

That 6 month blow out was obviously going to make it harder to avoid running out of money. Borrowing money worked once, but a company making a loss is always going to struggle to get a lot of approved debt. Covenant breaches hinted that more debt wasn't likely. Hint 2.

Adapt revenue hadn't grown as much as hoped and so cash drained away, and the last 4c showed a low cash position which was untenable.

So we are now where we are. WP could either refuse to have a cr and wind it all up or have a CR. What would you do, particuarly if you believed that adapt had finally taken off and was set to increase next quarter by 80%

You'd do a CR. Yes Wayne didn't achieve exactly what he set it to do in the time period, but it would appear that he is now close.

Yes, you can be upset at Wayne, he didn't deliver everything he said in the timeframe suggested, but given the above you also need to realise it wasn't unforeseable, and it was a decision that had to be made. As shareholders we need to keep our eyes open. He also couldn't come out and say "sorry everyone we are going to need a cr" or it would have been raised in the low twenties at best.

Hopefully what he has achieved is set AHZ up for success in the near future. Next 4c will tell us a lot about Wayne's credability.