Ann: Annual Report to shareholders, page-52

just because sales went up and down it doesn't mean they had sales growth.
2019 was strong because of preordering bc the company wasn't able to deliver products = managements fault. then they add capacity because they misread the market.

2020 was Covid but as you know the fiscal year starts in June so they had 9 months to sell stock. distributors and brands were still using stock bought in 2019.

2021,2022,2023 had some up and downs with lot of weird excuses along the way.

the overall revenue level per year is 12-14 million depending on the timing of the shipments. so in fact there is 0 growth.

that's why I think management is dishonest:
they cherry pick and adjust numbers when it's in their favor.
they should report volume, pricing and fx for each year.

this year they did a SWOT analysis.
next year they will tell us about brainstorming exercises during board meetings.

I understand that running this business is hard, especially if you build capacity for 200 million in revenue and are not able to sell a little bit more.
but taking shareholders for fools is messed up.

I think most here do not understand the implications of this dividend. it's basically a way for LM to get tons of shares for free without limitations. other shareholders get diluted again and again.

why is no one questioning the loan ANO gave to Acton to buy shares? it's not right to do that...