Retail heading towards a recession is usually not good as...

Retail heading towards a recession is usually not good as discretionary spending goes however "treats" tend to be resilient in the initial stages of retaining existing sales. Spending and expansion IMO still probably requiring USD so I do understand teh currency theory but just lucky theyr are earning in USD and main production expenditre is in USD. There are few costs to save in this company apart from listing expense and remote offices, travel etc so scale up ,growth and volume or to be part of a larger group are the pathway to a better business with lower unit costs. On the surface it appears to me owners who are in control need a company in their portfolio that has cashflow and they would value that far more than and external offer from anyone who wouldn't want the ASX baggage. ASX has made it harder for backdoor listings / sector changing so shells not the valuation they once were. Dream for holders / managers would be if a growing confectionary company needed a aus listng and also wanted YOW business. That is a big ask especially if current managers want / need a big premium to cover their cost of getting control.

Meanwhile shareholders will see a small business without scale and larger than competitors overheads try and find a niche. Competitors have marketing and admin costs spread between hundreds of products and have effeciencies hence margins from scale.

Can YOW buy other businesses to get scale and justify expense? Not sure who would genuinely fund that ATM .

Interested where you see the future as a small holder in a minority holder situation where managment have full control IMO?. I can't see a uninvited takeover as major holder has too much control. Just my thoughts as market investors IMO dislike minority positions due to inability to enter or exit stock and lack of liquidity. That changes teh possible pool of investors via ASX to basically retail. Doesn't mean they won't make some $ but IMO less likely.