A very cute gloss put on edencrete:
"Since the restructuring of the US workforce in November 2022, the annual US wages bill (salaries plus benefits) has now been reduced by US$2.267 million A$3.351 million) per year, whilst US sales (with the reduced personnel) for the 12 months to 30 June 2023 have dropped by only US$322,812 (A$477,246), resulting in a net annual saving to Eden US of US$1,944,337 (A$2,874,508)."
They have quoted the wages bill "saving" as an ANNUALISED amount but it should be noted that QUARTERLY Edencrete sales went down from AU 581k to 207k (a 374k drop) which if annualised would be a drop of $1.5 million. So they are totally reliant on a higher Optiblend outcome (admittedly a bit higher this quarter.
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- Ann: Quarterly Activities/Appendix 4C Cash Flow Report
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-3
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