Ann: Corporate Update, page-17

Agreed, this is not operating as a listed entity. It is being operated like a family business and outsiders (including minority shareholders) are merely there for the ride, in whatever form that ride may take.

It came out of a carbon trading business and is yet to transform to anything else and as such the accrued loses are attributed to that discipline not to any agriculture venture it is yet to embark on financially.

It is not a "shell" for the taking as it is still trading (as both an on-going concern and as an ASX listed entity) and the current majority holders are in active control of the business albeit not exactly value-driving control. So technically it cannot be used to do any form of back-door listing for some new aspirant from this perspective. What it can do is seek a company looking to use 1AG as a vehicle for its own purpose, colloquially referred to as a reverse take-over, however the current governance team would be extremely unreceptive to this as they would be required to hand over both control of the financials and control of the vote count for 1AG and for them that runs the risk of loss of personal earnings and operational flexibility.

So 1AG is neither a shell by ASX qualification nor an RTO option by current governance appetite.

What may well be happening is an individual is seeking sufficient control of the company to force a Board Spill and that seems to be the current play.

So either watch and wait or try and play the short share price volatility that is happening but for my money that would be madness due to the market liquidity.

I don't have an axe to grind but I have watched very closely three dairy starters to see how they travelled and what strategy they used and what worked and what didn't...all three are failing for different reasons and this is one of them.