What he/she said!!!!I repeat - you cannot M&A your way to...

What he/she said!!!!

I repeat - you cannot M&A your way to prosperity. At some stage, the core business has to start wiping its own face. Step one in that regard is to achieve an Operating Cash Surplus ... which we have never achieved. Imagine what the cash position would have been had we had not received ~$1.2 million via Govt Grants ($510k) and new Debt ($718k).

Here's a hint Maria - start slashing Staff & Admin costs (which are both going through the roof!!). Given the performance of the business, perhaps you could start with your own remuneration?

As for the China deal with Mr Ko, I thought there were minimum purchase orders in place? No mention whether these have been met or not - but excuses about regulatory issues affecting revenues.

I do not expect BLC to be the white knight - especially as CEO Nikki has deserted the ship after barely being with us long enough to powder her nose, let alone oversee the business. If I remember correctly, BLC had only been profitable in 1 year out of 30 .... and funnily enough, that was the year immediately before we gave them $1 million and 32+ million shares (or 15% of our company's equity). In fact, I wouldn't be surprised if they become a lead weight around our neck.

Please stop quoting "Revenues" in the narrative and start talking about EBIT/EBITDA, net cash position etc instead. There have been plenty of businesses with millions/billions in Revenue that have been insolvent and ultimately liquidated.

Lastly, judging by the drop in the SP today - there appears to be plenty of shareholders (778,000 shares) who can no longer stomach the losses. Share price is now 5c (which is the equivalent of 1/4 of 1 cent in the old money). Bloody hell!