Ann: May 2021 Business Update, page-108

They are banking on no major buyers sweeping this up.
The next announcement can only be positive.
- simple terms is the business can't be making 0% EBITDA for longer than 2 months. If so, you are saying their inventory is unsaleable and needs massive write-downs to clear.

I have a feeling they wanted to make this half sound as bad as possible so the founders could buy in cheap again. Problem here is $5 is 0.5 x sales or 16 x PAT. It is too cheap for a company that made a significant acquisition and will be seeing synergies in the near term.

Shorters need to plan their exit very soon or face losses. Luckily for them they upped the ante around $14 so they have plenty of time. Would like to see if they upped their assault yesterday. I doubt it.