Ann: FY20 Results Presentation, page-42

Concur SUDs nothing has really changed since my May 2020 (except more rhetoric) post when I was blasted for not seeing the value of CDY at the then price of 17.5 cents!)

"Agree any sales % increase is good news however unless CDY takes a surgical knife to its high salaries and administration expenses it will need to generate at least $6m in additional sales to break even especially now that the COVID test unit experiment is dead in the water. Fixed Overheads should be adjusted proportionally to sales volume. CDY can do it if the directors have the shareholders best interest at heart.

I have never a known a company to have so many wishful, hopeful and charitable HC shareholders as CDY. Very rarely does a post get aired about the company’s financial projections, especially to justify is current MC position. Don’t get me wrong its admirable but not if you wish to make money.

The lack of communication to shareholders from a company that has so many executives being some of highest paid CEO’s and MD’s in its industry and has just issued an SPP with a specific objective is appalling and should send alarm signals to shareholders.

The company is losing money and has exorbitantly high level of Administration expenses; CR’s unfortunately get misconstrued as revenue (esp. amongst directors) its NOT. Shareholders should be informed on the current and future revenue forecast and financial position of their company.If I was holding I would be bombarding the Company, ASX and ASIC demanding an update on the progress of funding especially when the primary objective was to raise funds for the roll out of the Wondfo SARS-V-2 diagnostic test. "