Ann: Appendix 4D and Interim Financial Statements, page-7

Negative gross margin

$509k in cash

Current liabilities outweigh current assets 2.74 to 1

The next CR is imminent, I just don't know what their basis for the raise is going to be?

For years now it has been a case of "scalability, forward order book and potential". There comes a time when as a shareholder you will just have to stop believing in the story.

The only good thing going for this company is the story. Unfortunately the region they are operating in is a challenging one, may have to just cut their losses.

During the Covid period, difficult supply chains, transition to sustainability, companies needing pallets etc. This company should have been raining orders.

Wolf