I most certainly don’t want to upset the apple carts but (as a...

I most certainly don’t want to upset the apple carts but (as a long term holder & "hoper" and at the risk of getting a kicking)... I think announcing these figures to the market was not a good move. Apart from being “unsigned” by the CEO, the numbers are inaccurate and may give some prospective & existing shareholders a distorted picture.

As usual, the narrative is typically upbeat & positive sounding - which is obviously what we want to see, but to me, and I am very happy to be corrected on this, there is a lack of narrative explaining why most of the operating cost numbers don’t add up, as follows:

·There appears to be a $70 discrepancy in the R&D Costs from Q12020

·There appears to be a $743 hole in the Production Manufacturing Costs from Q12020

·There appears to be a $56 discrepancy in the Advertising Costs from Q12020

·There appears to be a $17 discrepancy in the Advertising Costs from Q12020

·There appears to be a $887 hole in the Admin & Corporate Costs from Q12020

Whether they have just announced a draft copy, or they haven’t checked the numbers I don’t know – but to me, this is no excuse and is not good enough. Here’s my other thoughts…

·Admin Costs – 61% increase compared to Q22019

·Net cash position is worse than Q22019 (& that included the the Ikon debacle payment) as well as the issuance of more share capital last year

·Overall, there was an average 57% increase of actual cash expenditure from what was estimated in Q12020 (including a 217% over estimation in the Admin Costs alone)

Overall, I was underwhelmed and I am hoping like hell the above was just an unfortunate error – or that I am looking at the wrong 4C!