Ann: Appendix 4C and Quarterly Activity Report, page-4

The M&A strategy is because despite MH spending a fortune (Our Money) to get this off the ground she failed and its losing money.
Unless we get some cash generating business in that doesn't require more cash to run it than it earns we have chance.

If it had positive cashflow generating potential they would be working it, they don't throw the baby out with the water.

Unfortunately because of the past they are being very conservative, the Director is only charged with UPSA as he was a former owner when it was generating $10M, somehow BWX stuffed it and offloaded it. Hopefully the former owner can get it to its former glory.

Hopefully they assess something in their due diligence with BWX? that is worthwhile.