Ann: Notice of Annual General Meeting/Proxy Form, page-21

I don't have to acknowledge anything.

I will acknowledge this though. I pride myself in the ability to look at my stocks objectively.

There are investors who like to focus on one or two different aspects of a report to confirm pre-existing biases towards a company. This shows an inability to think objectively and in behavioral economics this heuristic is called confirmation bias. You going onto Afterpay's report and fixating on lack of revenue figures and accusing them of smoke-and-mirror reporting is a perfect example of this.

I'm not here on Z1P forum to discuss why I hold Afterpay or why the most brokers have upgraded APT price targets to above $100 but I will say this. An inability to think objectively is an investor's worst enemy.

For full disclosure: I've been divesting a chunk (not all) of my Z1P shares since the FY report came out a few months ago, and I've been topping up my preferred stocks in APT and TPW. I initially bought Z1P in March at $1.77 so it's been a solid investment. And before you think I'm just an APT fanboy, I'll add that I sold ALL of my APT holdings prior to the March market crash due to risks associated with holding them. Lucky for me I picked them back up between $9 and $20 but my point is I don't have loyalty to stocks. I buy where there is value. I'm an objective investor.

You can keep pointing to Afterpay's lack of revenue reporting, in the meantime I'll look at the indicators that go into revenue: Net transaction margins steady, losses steady, increase in TTV. It doesn't take a genius to work out that this means revenue has increased but not everyone gets that.