Ann: Breach of ASX listing rules, page-74

posted this on STT
Might be of interest to those on this thread. Unfortunately, some of the content on these threads is quite misleading.

just some details now:
JAT
411m SOI, will be 526m if all resolutions are passed.
Revenue for each of last two quarters was 800K. Was profitable in Sep quarter. Bought ingredients for milk powder last quarter and not profitable.
BUB had $2m rev last qtr and never been profitable, WHA had ~$550k revenue last two quarters and never been profitable.
JAT MC around $84m (for 526m SOI, or $66m for 426m SOI) ; BUB MC around $330m ; WHA MC around $360m.

JAT's manufacturing facility (Golden Koala) already has CNCA approval, one of 15 Aus facilities to have.
And CFDA approval has been applied for.
The CFDA approval is not required for online sales and sales on JD and Tmall can start right away. To sell in brick and mortar stores in China, CFDA approval is required. To sell here in Aus, obviously not. Neither BUB nor WHA have CFDA yet either.

Also has existing Daigou business into China selling a range of products including wine. Peer is AU8. Au8 sales ~$125k per quarter last two quarters, MC around $113m.

Looks like JAT still has room overhead to move in peer comparison. Lets see what market thinks over next few days and weeks. I think appetite or milk to China businesses is still strong among Australian and Chinese investors.