Ann: Corporate Update and Acquisition, page-3

G'day Phillit. I didn't want to be first - given I no longer hold any shares but only continue to monitor. I do agree with your sentiments.

Interesting there is no corresponding announcement from BWX but looks like they have problems too - hungry for cash...hence the circling jaws of the minnow like AN1 - who themselves are trying to stay afloat - but trying to look prosperous at the same time.

Given the last 4c...there is bugger all cash on hand and once allowing for continuing operations...even less...so that's why the buy price was "immaterial". Maybe being in the season of goodwill had something to do with it? Will be interesting to see what AN1 is actually buying then?

Also, given their heavy interest in growing the business via M&A's...I will be interested to see whether AN1 intend to fund their growth in M&A's by organically increasing the FCF, taking on more debt or a lot more share issuance. I suspect the first option will take far too long, the second option won't happen either because the interest costs will increase their "zombie" status (even if anyone was willing to be the counterparty that is)... so it looks like option three...and more dilution would follow...

Dear oh dear!