Ann: Appendix 4D 31 December 2020, page-2

some alarming reading in that for me...


In a year when the AUD appreciated vs EURO and USD they show a foreign exchange loos of $370K? What the hell have they been doing ? Did they buy currency forward and then get caught with their pants down when it went the wrong way ? AUD gained vs almost all currencies last year so how did we get such a big loss ???

I won't even post the charts because someone here has dropped the ball big time !! Ok so i will do the main one which is Pauls salary.. as i believe its paid in Euro's... no wait maybe it was the CNY as there is a lot of production going on there... oh wait the Chinese like to be paid in USD ?? swiss franc as well !








Revenue down from 1mil to $290k ...

Device business only generated $145K ... so lets just take that figure and divide it by $65 (cost of a hairpod) that's only 2230 hairpods (lets not mention the expensive device that may have sold a few to really that figure is lower than that !!) now if it was the device only that would make it 362 devices... wow one a day or well less than that.. even more alarming if its a combination of the two!





only positive i can see is the $770K of trade and receivables .. but that would have been gobbled up in Jan alone.. so its history

Ok im ready for the rose coloured glasses brigade to make it all look rosy and how this year will be the year and the BOD really do know what they are doing !!

over to you !