Ann: Broadway acquisition and update, page-37

You "at the coal face" observations are, I am sure, an accurate reflection of what you have seen, but may not reflect the much broader underlying business model.

It is a little like walking into a pub on a Friday afternoon and believing the business model is a licence to print money, but the business has no lunch trade and pays rent for 24 hours of the day.

AU8 has been steadily growing its income quarter on quarter for 2 years now. Much of the income is from tour operators who visit the warehouses. Another significant channel (25% -30%) of sales come from online. Small city store visits will not reflect either of these sales channels.

The next couple of quarterlies will offer me more insight into the business but we are all forewarned by Roar987 that there are genuine risks associated with AU8.