Ann: Annual Report to shareholders, page-13

I have a different view on the cash flow. I am not expecting much change from the previous quarter so the burn will be the same or even a bit worse. Maybe i am being pessimistic but i think the general consensus seems to be that the flu season was milder and therefore those extra revenues from advertising may be down a bit. This will not be greeted with great joy by the shareholders. The word around the traps is that they cancelled a cap raise so Klaus must be feeling confident. i do think they need to do something because the debt is starting to pile up. 

I will be voting in favour on the AGM. I am not concerned about Edith getting options. If they get the price up to the strike price then i will be delighted. Back of the envelope suggests that this is not a ripoff placement as the potential to buy sheep stations off this issue doesn't exist. (Leave the eye watering bonus issues to the bankers )