Ann: Operational Update, page-75

Go bush for 48 hours, come back home and guess what; no change in the SUD share price but there is an Operational Update.

Well that has to be good doesn't it....?

Well after reading it, yes, no, maybe.... I've actually got no idea.

It is probably the weirdest communication from any company that I have ever seen, except for that one that blamed an ASX speeding ticket on some non de plum on Twitta (oh bollocks that was us wasn't it???). It's sort of a hybrid between a medical emergency on "Home and Away" and the conversations that junior entrepreneurs have after they have just failed a "Shark Tank" interview.

My first impressions were yeah right chaps, here we go, another dog ate my homework excuse. This time Carters sick. This is just another excuse from SUD, like the Ebola 1 epidemic that WHO prioritised over the artimist negotiations, or the GFC that closed down the funding options, or the krauts that gave bad legal advice, or Brexit or bird flu or those lazy accountant types from the TGA that rejected our favourite artimist product, amongst an assortment of others.

But then I'm thinking, Carter's got crook, and that's no good of course, but why put it out as an announcement. Why can't one just whack this stuff on the website or social media or something. Well Reader, who often raises valid information, suggests that it may be because of Sect 3.1 of the listing rules around continuous disclosure.

So now I'm thinking maybe Reader's right, maybe this is a "although we promised a whole bunch of crap whilst spruiking the last CR we didn't manage to finalise any of that crap during our CEO's illness so we are in compliance with said listing rules, nothing to see here."

But I'm also thinking, well maybe it's just a bit of marketing for the new BoD. You know "we have got such great depth in our Board, that even when our MD/CEO is laid up in bed, the great talents of Hopper and Phillips can stand tall and keep this gravy train on the right track."

But then I'm thinkin,' hang about, old mate wasa mentioned that Hopper was gallivanting around Europe for a month or so attending various conferences and beach parties and the like, so how the hell did he help out. I also have it from a very reliable source that Phillips is probably out of his depth here and certainly is not "Foreman Material" (for those that are old enough to remember).

So what the hell gives with this announcement? Well maybe it was an opportunity to provide an actual operational update? So lets see.

1. Curtis, Major Farma, co-dev deals, nup nothing new to see here
2. Phillips, expanding zolpi, late stage discussions, none here either
3. Zolpi, TGA progressing well, yep knew that already
4. Phillips, more co-dev discussions (outside of zolpi) as well as portfolio ones, you go Davo, but I also knew that
5. Phillips again, Strides co-dev deal on track and increasing revenues in coming quarters, right got it, that's the point. Don't expect good things in this months App 4C in terms of revenue
6. Anagrelide, well Carter's back so we can all relax and the long awaited update about some major Farma stumping up a bunch of bucks to pay for the "proof of concept" trials (and get a piece of the pie) will be forthcoming. Yep knew that too.
7. Artimist, yep your appealing to the Minister. Yep I got that much earlier.

So that was the point of the announcement. Don't expect useful revenues from the next App 4C.

Instead of the announcement being entitled Operational Update maybe it could have been called one of these

• Profit Warning, BHP, CBA and SUD downgrade earnings forecast
• Bonanza grades found in Hopper and Phillips tenements
• Big Bench Strength on SUDA's Board
• I never promised you a miracle
• Artimist? Yes Minister!

Is there really anything left to say?

Yep.

Time for a drink.