Ann: Investor Presentation - October 2016-SMA.AX, page-10

The implication of these presentation is awful. They admit that their business strategy has failed. SMA'S management is not able to create enough turnover to get their low margin mass business going as you can see in at page 12. About 8,5 Mill. (about 3/4 of their whole operation's turnover) and a shit of gross! profit (Y2016). They have accepted that their superb growth rates are history. And without them they never get profit. So now we are talking of a revenue drop from 2 Mill to 600k (1Q2017). Getting a gross profit of about 100k. That's 16%. Even that isn't a gross profit margin you can be surely not brag about. Still a long way to go and no proof of ever becoming profitable yet. My hope is failing. I'm glad, I'm down to 100k shares. Make me an offen for 0,04 and you can have the rest.