Ann: MHM Board Changes & Company Update , page-6

Good summary

Areas of concern

Confirmation the plant is still lagging behind targets despite the commencement of the filter on auto .

Confirmation that the longest serving NON exec director would leave . ( as predicted )

Closure of the plant over Xmas ( Cash flow will suffer )

Nothing upbeat in respect to financial performance


Positives

New Director in my view appears to be in the same vain of the CEO , ie someone who wont just rely on the dream of the past board ( Alreco ) and may be open to buying a complimentary business whilst he market cap holds $10m on skinny revenue and large losses which in te longer term is not sustainable .

Overall more good than bad , and yes might be a turning point for me to buy in if they do do a CR for an acquisition at 6-7c .