Ann: 1H FY2022 Results Presentation, page-5

I agree.... sales are growing and yet so are their losses. Operationally (from sales perspective) the company looks to be going really strongly but yet they are still losing money?

I also note they slipped into the announcement the director performance rights have 'vested'.... on the basis of achieving $3mil in sales a month when calculated on an annual recurring basis.... yet there is nowhere in that presentation that details 'which' month that $3mil target was achieved?!? They generated $8.3mil in Dec qtr, so I gather they hit it in December? The SHs at least deserve further clarity around when the target was achieved.

It's also a very fortuitous target for the directors (deliberately so perhaps?!?).... considering historically the company's Mar and Jun qtrs only produce around half the sales of the Sep & Dec..... as such they are still likely to be some way off actually achieving that 'annual' target of $36mil ($3mil x 12months) on which you'd assume the incentive is supposed to be based upon.

It feels like only the CEO and directors will continue to reap the financial benefits from this company while MF is at the helm.