Ann: Non Cash Impairment, page-59

There are just errors on errors on errors with the company. I am at a stage now where i see this as a wipe. The road back will be a slow one unless there is an exponential boom in sales.

Which if you look at the market when BUD purchased Lifx was doable. Now, well, add another 3 to 4 not so small and dissimilar quality players in this space and Lifx giving up their second place mantle due to not being able to put product on the shelf and quite a negative customer sentiment.

I would have to go back to see when the down light was announced, but I remember DM telling me it was not a priority, which I found curious at the time.

Clean is going to get confirmed in a time where it will be irrelevant, the world has Covid fatigue now.

Filament was a flop, not sure if it is even still manufactured?

There is no matching socket with switch.

This company always seems to be a day late and a buck short and shutting the gate when the horses have all bolted. To be honest I am staggered there is management support from the T20, as I haven't seen the decisions that should have been getting made when they would have mattered.

So I get back to the bottom line, if we are being generous and saying $200k per month NPAT giving 2.4m per year, what's it worth? My valuation is 3.5 times NPAT plus stock. That doesn't even support the current market cap, nor factor current and non current liabilities.

It is hard to have a positive sentiment based on the time line and the bottom line.