Chris, most of the revenues, as I understand it, and that was a while ago, were made from crops from Victoria producing milling seed for oil and protein. Media reports stated the effect of the drought in different areas during 2018. You would have watched "The ABC" during that time or another news channel. Many of CGB's own reports mention Waltanna in Victoria.
Was the company not right to state that the area where crops were having some success should not be reported?
Public companies must watch carefully how they present data to the market. It must be accurate for the ASX, but in doing so why, in the world, would it be in your best interest to report on difficulties to the market re one area of the state, when you were still assessing and discussing with farmers drought results and crop outcomes, when you were actually having some moderate success in another area?
Wasn't it a brilliant step by Andrew to have organized farms in different states to protect our money in some way? How many hemp farmers, or even grain farmers were caught up with having all their eggs in the one basket on one property? No one discussed that, here. It was just all listening to negativity.
Re reporting: As a BOD I would definitely want to know, if the company was going broke, the market must be informed, but if there were maintained funds and a doubling of revenues every quarter, no matter how modest, that is how things should be presented.
Investors in Pennies don't want to hear "Sorry NSW or wherever has been a real disappointment, and please ignore successes in Victoria." No, what they want is quarterly positives, if there are any, and at the end of the year, the truth about the whole planting be detailed or outlined. Which they got. That is basically how it works, Chris, whether a few of us like it or not, my friend.
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