Ann: Investor Presentation, page-28

Sound's like you haven't been in business before?

They have spent hundreds of millions of dollars on attempting to grow a company over a 4-5 year period, in a market that was favouring this type of product, I personally think they messed up going goats milk solely from day one, they could have tried to take on A2M directly and probably had better results in 2016-17-18 and then opened up a more specific line like goats milk on the side.

I'm not saying BUB is dead, I'm not even saying this stock couldn't be valued significantly higher in the future, but as of this moment you really can only work off book value plus a little bit of goodwill, possibly 15-30c would be a decent entry point IF they could break even or get near it.

Don't forget how far into this bull cycle we are, underperforming companies like this will be the first to sell off when money is turning to bonds, cash or gold.