Ann: June 2021 Quarterly Report and Appendix 4C, page-5

Highlight: Recurring revenues up by 9%…

Hardly a highlight for a “growth” stock leveraged to one of the best growth sectors and having had almost a full Qtr of the new Bibra Lake DC being operational. I wasn’t expecting big revenues from a newly opened DC as they build capacity but I was expecting something and I certainly wasn’t expecting them to go backwards.

Lack of detail around all of the business units. This Qtrly is designed to provide very little information and that’s a huge red flag for me.

Lowlight: Overall revenues are down on last Qtr. So the company has opened the new DC, rolled out three of the modular DCs to paying customers, and yet managed to bring in less revenues than the previous Qtr? It’s hard to fathom how that is even possible.

Low on cash, capital raising coming down the pipeline shortly you can bet your leftie on that.