Ann: Annual Report to shareholders, page-9

I have done some further reading and here are some insights apart from the very basics that we all knew:

• EPS(earning per share) is 0.71cents – improvement from last year ($0.54). Please note that it turned from previous years’ negative figure. This is why it is called a “Turnaround Story”
• CEO took home total $90K in salary – we are lucky we don’t have a greedy CEO. Remember that he was not even taking a salary last year and have in the past provided company free loans.
• The company still owes the CEO $1.8M – it means that he did not get his loans repaid from the CRs. The company raised $9.6M in total, looks like most were used for inventory purchase.
• Cash at bank at end of June $3.26M – given the stock holding at $10M. I bet these $10Mstocks are sold out by now – more than half of the population are under lockdowns - means online shopping.
• There is no bank loans, nor expensive finance borrowings.
• The company has historical losses and can recover some nice tax benefit. Again this belongs to all shareholders and let’s claim back as much as we can.
• The company recorded $62K for Marketing ADs – 0.14% of the revenue – almost too low. Not sure how - MYD spent $22M last year!
• The company has a very small amount sitting in Plant and equipment - $14K. It means it is very light on capital – positive.

The more I look at these, the more confidence I gain. It is matter of time, the SP will rocket! My opinions only.