Ann: Focussed Strategy to Maximise Growth, page-26

There is more turmoil ahead, but if you've been through a few of these already you'll know that there are going to be a lot of opportunities coming up. I did well during the Covid crash just piling money into a leveraged ETF when I felt the bottom was in (when people started running for the hills).

ECS is one of only two stocks I currently hold, it's high conviction for me. Without ECS none of us would be able to share in the future of Murray Meds alongside Nan. All the decisions made by AK have led us to where we are now, which is a pretty strong position compared to peers in the industry. Part of my job is to analyse credit worthiness, although on a larger scale than what ECS will be looking for. What I see in other companies carrying large amounts of debt scares me, I can definitely see covenants being broken and loans being called in. In this respect, AK has to be given some credit for reading the tea leaves and pivoting this company into medicinal cannabis and away from its previous foray.

Cash burn is the norm for speculative growth companies. It still amazes me that people act surprised by it, did they not read the sign on the way in that said not profitable? It's a bit rich for people to expect to get exposure to the potential for high returns without the equivalent amount of risk.