Ann: Annual Report to shareholders, page-11

Good Morning Everybody.

Hope that all are doing well enough through these extended lockdowns.

Our FY20-21 results were very pleasing indeed. My thoughts and my opinion is that this is a business that has achieved an extraordinary turn-around. We saw the first glimpses of this about a year ago. This year the turn-around was solidified.

Revenues Up over 200%.
Profit Up over 75%.
Inventory levels boosted by over $10m.
EPS up from $0.54 to $0.71.

Cost expenditure so frugal. CEO Garrison Huang being paid a most modest salary, and purchasing more shares on market.

Everything is shaping up exactly how we could want it to. The business is at early growth stage. This growth story will manifest stronger results this coming financial year.

As some have pointed to here, the giant Kogan took over $1b in revenue to achieve only $3m in profit. Our revenue vs market capitalisation is a joke. It will re-rate, and savvy investors know this. They are accumulating where possible, because the market can't forever hold this share price back. Personally, I have become increasingly confident in Garrison, his team, and board, and am excited to see what they achieve in FY21-22.

With lockdowns extended throughout Sydney and Melbourne, we are likely to achieve yet another record quarter.

My projections bring me to a minimum of $16m. Somewhere in the vicinity of $16m to $18m is achievable. I am interested in what everybody's opinions are on this?

Have a great day. This growth story is just beginning.

$tockfella.