Don't be disappointed.It was patently obvious from the beginning...

Don't be disappointed.
It was patently obvious from the beginning that A2 would only ever possibly supply a limited amount of formula because it is a niche product. It was also on the basis they actually had product supply available. And it had to be at an agreeable margin - because there is no point cannibalising one markets high margin for another market low margin.

It is well known the FDA is understaffed and not performing well. You don't turn a bureaucracy around like that quickly.

It is well known the main suppliers to WIC would always protect their patch.

And the USA will do what it can to support Americans in local jobs.

Given all that, had A2 been successful we could realistically have expected a poor performing gross profit in Q1 of 2023.

What we should now expect is a planned and methodical entry into the USA IF market - if there is indeed a plan to profitably do so.

So, theoretically business as usual.

(not helped by a CEO who mouths off to a financial rag without the courtesy of actually making a non-price sensitive announcement to actual shareholders first)