I can only post an excerpt (due to copyright) but it sheds further light on this:
"The foundations of this dispute were laid a year earlier in March 2022, when Lin and Carr had penned an exclusive distribution deal with Andy Zhang‘s “AZ Global” daigou vehicle. As part of the agreement, the daigou operator universally known as “A2 Andy” got an exclusive brand to flog in ‘Bubs Supreme’ while Bubs booked $50 million (later revised down to $44 million as it diverted stock to the United States).
The problem is, AZ Global didn’t sell all the product and is sitting on hundreds of thousands of tins of Bubs Supreme. That would be A2 Andy’s problem, were it not for the fact that all that inventory floating around makes it harder for Bubs to make its FY24 Chinese sales targets."
BUB Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)