Ann: FY20 Q2 Activities Report and Appendix 4C Cashflow Statement, page-33

Smart move IMO.

Revenue 13M
Manufacturing costs 18M

Skimming through the update it appears that this business can't seem to manufacture for less than what it sells for its that simple.

Great news though that the Banks and Insto's doubled down and bought up large at the recent 0.95 cap raise, to then have BUBS put their cash into those sassy digital marketing campaigns over the next few months before coming cap in hand for the next cap raise. Google shares would be the only clear winner here.

More sales = more losses using the goat milking formula BUBS business model, which unfortunately = more cap raises for the LTH well into the future. Comparatively JAT hit 20M revenue with 700k profit third quarter in a row. BUBS should use the 30M in the bank to just buy JAT outright. or some A2M, KTD anything but this one is hopeful at the moment.

My pick 50c I'd still need to think about it as the model is broken.....