BUD 0.00% 0.6¢ buddy technologies ltd

Ann: AGM letter, page-4

  1. 1,700 Posts.
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    Yes, shareholders do have access to the remuneration report. It is fully disclosed in the AR. The chairman seems to be the major beneficiary of share payments during FY21. Be interesting to ask why? Certainly cannot be claimed to be performance related!
    Service revenue, presumably Buddy Ohm has reduced 50% during FY22 cf FY21. Is this Covid related or due to a change in focus?
    The major item of interest in the AR is included in Note 12, Intangible Assets. Included under the assumptions for valuation of goodwill are the following disclosures:
    Forecast Revenue Growth 70% in Fy22 over FY21.
    Forecast Revenue Growth after FY22 is 20% p.a.
    Operating costs forecast to increase by 3% per year.

    Note 14 Borrowings.
    This discloses current debt of $22,478,090. PFG seem to be the major beneficiaries of Buddy business activities. The question needs to be asked of the directors just how they intend to repay the borrowings disclosed as owing in the next 12 months. It should be noted these figures are as at 30 June 21. Some of these borrowings have already been repaid and or forgiven. I would really appreciate a slide presentation by DM disclosing how he intends to manage BUD cash flow through the next 12 months with a particular focus on how this debt repayment program is to be managed.
 
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Currently unlisted public company.

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