Ann: Appendix 4E and Annual Report, page-3

Quick Overview:
Company quotes :Strong Balance Sheet"
How ? Revenue down 66.8% or 27 Mil down to 9 !!
EBTIDA Loss 12.3 Mil or 294%

Nett Assets 21.1 Mil down to 10.3 Mil Halved !

Admin up 80% 1 Mil to 1.8 Mil !
Legal/Pro up 1.8 Mil to 4.1 Mil 127% increase

Impairment of Goodwill - Loss of 6.3 Mil ?? {Exceeded its fair value}
Goodwill impairment is an accounting charge that companies record when goodwill's carrying value on financial statements exceeds its fair value

No Dividend this year - I wonder why ? losing money and burning cash

Non Ex Directors paid $88k pa for fees but only hold $33k in share value - says to me its not worth the investment ?

Mr Hyslop cash pay of $465k pa + $300k in fees

His CFO Mr Ranlich cash pay of $250k with $284k in shares pa {Thats 175000 shares @.65c Nov 2025 - tells me the value has gone when the stock hit its all time low today @ AUD .117c compared to AUD $3.29 in July 2020

What about the new CEO Mr Woolcott - His sal of $162k pa with a fee of $360k ? plus 215000 shares as per Mr Ranlich's deal.

All I can say is these guys better turn this business around or I'm out

ST