Ann: 2017 Annual Report, page-17

I wish all holders well. Hopefully recent buyers will do well out of this at the current share price.

I have sold.

The sales volume is woefully insufficient and I lack confidence that they have it in them to do better.

I thought the announcement was pathetic and just self serving commentary from the Chairman who presided over this debacle with no hint of any personal accountability or reflection.

Nice they threw the former VP Sales under a bus and are going to axe their Aust sales force but they weren't the ones who signed off on the $16m staff costs associated with receipts of $2.9m.

I leave you with some quarterly comparisons and the question, does this board have the bottle to do better?

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7
0	AXP	Q1	Q2	Q3	Q4	FY17	Q1
1	Aust Units	83	121	93	123	420	98
2	USA Units	38	176	366	570	1150	577
3	Reported Net Rev $m	0.257	0.701	1.177	1.789	3.924	1.8
4	Receipts from customers	$ 175,000	$ 391,000	$   909,000	$  1,370,000	$  2,845,000	$  1,903,000
5	Receipts per unit sold	$   1,446	$   1,316	$ 1,980	$   1,977	$   1,664	$   2,819
6	Staff Costs $m	$   3.509	4.183	$ 4.554	$   4.379	$ 16.625	$   5.292
7	Staff Costs per unit	$ 29,000	$ 14,084	$ 9,922	$   6,319	$ 10,589	$   7,840
8	Cash End of Qtr	$ 11.892	$   2.215	$ 9.875	$ 4.16		$ 1.18
9	SP	$ 1.20	$ 0.65	$   0.70	$ 0.70		$ 0.14
10	Treasury Investments Held $USm	$   24.95	$   24.90	$ 20.90	$   18.40		$   12.40

GLTA