Ann: Investor Presentation, page-101

We just bought a company that has a current 2019 Net profit AFTER Tax (yes we have to pay tax) of $3.5mill from turnover of $55.7 mil.. only about $1.5mill more than we get from P&G based on 4 times the last quarters royalties... and we are "potentially" paying $85mill for that privilege even at $50mill it a joke... .. and people still can't understand why its a bad deal on paper and it also dilutes us to the crapper and back.. ?? there are better ways to have done this...

I believe Reduit will deliver way more than 3.5mill in profits in a very short space of time.. i believe it would have taken a lot less than even $50mill to get it to that point.. yet here we are .. being diluted to timbucktu.. going into debt.. well slap me with a wet trout!! that sounds like i should support that idea.. its a no brainer...

PS.. NS has not had an EBIT of $11.7 mill in the last 4 years (possibly ever).. to achieve that figure it will need to double last years EBIT.. and to achieve it.... it has to do 1 of 2 things... have a massive increase in turnover... or cut operating costs severely... its that simple.. i cannot foresee the massive increase in turnover.. so its cost cutting .. going to be hard to cut $6mill in operating costs.. as they will go up once we tap that $20mill loan facility..

but its all good as this deal has saved all of our OBJ souls from inevitable foreclosure and bankruptcy, and the board are geniuses.. again winners out of this are Danny and the BOD who will, and mark my words, be putting in for a pay rise next AGM... and big ones at that.. after all they are now running an $85mill sorry $50mill dollar company...