Ann: Investor Presentation, page-56

CMK, not everyone who disagrees with your point of view is flaming or baiting. I've been invested in WFL since very early days 2006 from memory when a partnership with 3M was firming up. Is that longer than you? Possibly, possibly not.

Regardless, I don't think my opinion holds anymore weight, or should be respected more than an investor who bought for the first time yesterday. So not sure why you continually tout how long you've been invested for as if all other investors should immediately respect your opinion and refrain from offering an alternative point of view.

I wrote the open letter to the Board you were so impressed with because I am furious with how the Board have treated shareholders. I can spot a raging narcissist a mile away (here's looking at you SS) and I genuinely believe you, me and all shareholders deserve a lot better. I also think I could run rings around the BoD when it comes to transparency, honest genuine communication and putting shareholders first.

But let's not confuse that with genuine business nous. Looking past the character flaws, they have it in spades. I run a small business with a turnover of approx $1m p.a. COVID has forced me to pivot the business quickly - it has opened new opportunities and closed of traditional revenue streams. How is that relevant? Well, I know how difficult running even a small business is and I will be the last to criticize core business decisions. The BoD were forced to pivot when they took over, P&G revenue was never, and never will be any more than a trickle IMO. A completely new strategy was required, ad is now being put in place. Comments (not yours) regarding the $ value of the deal with Danny's company were misplaced IMO, everyone's an expert apparently and few of those comments were well informed. This turnaround has been impacted by COVID, and as frustrating as it is for all investors it will continue to take time.

You also express surprise (or thinly veiled criticism) that Olay products are no longer on the shelves in Australia. Not sure why this irks you enough to post about it. We have been told (repeatedly) that these products are seasonal / promotional. And even if they were available the revenue would be negligible.

You also express surprise / contempt / frustration (I offer alternatives because I'm not sure what your true emotion is) that posters are high fiving and getting excited about Paul's recent presentation. I thought it was very, very good. If Paul wasn't on board I'd be long gone, and I recognise even with Paul this is still a very big gamble (but hell, I've lost most of my investment so selling isn't really an option and I suspect many others - Grumpy excepted - are in a similar boat). Frustrating as it is are you really surprised revenue is so low? Do you really think the presentation was an attempt to deflect from the poor 4C showing? (and if so, what timing would suit you better?). It's one thing to be critical, it's another to provide practical solutions that may make a difference (you didn't). I would think the investor comments you call out are more to do with the long term company prospects than the very obvious immediate and likely short / medium term revenue shortfalls.

I reckon the smartest poster on these threads was Blurtt (how I miss his rubber room!) He very clearly articulated why he was selling out (and to date he has been spot on) and what it would take for him to buy back in (probably min 6 months away I'd think based on his criteria). I obviously won't offer you or anyone else investment advice. But what I will say is that it's fine to be critical of a company that has not, to date, lived up to its potential. But posters that offer nothing more than criticism really offer nothing at all.

Cheers, Unc