Ann: H1 FY2025 financial results, page-3

I must have been reading a different report.

Sales margins are still under pressure and DOD/Clinics are still loss making despite seeing a nice increase in consultations.



Interest bearing liabilities have increased significantly from approx $11m to $18m this half.

Inventories have increased significantly which is concerning since there is price deflation meaning the value of products has been decreasing. This means they are holding a significantly larger volume of products. There a chance they will need to write off more stock if they are left with obsolete products.

Operating cash flow was negative despite a good cash collections.

The only positive I see if that the Candor and Releaf acquisitions have not yet had any impact but these could be positive moving forward.

I don't see the share price moving about 10c anytime soon but lets hope the recent activity translates to the P&L in the next half result.