Ann: Preliminary Final Report-TSN.AX, page-11

Great figures. Especially the increase in comprehensive income. I do think this will not be taken well by the market. The increase is due to increase in valuation of TSI, which is great but still no cash flow coming in. I know we have heaps of cash still, but it doesn't take away the fact that the cash flow from operating activities is negative.

Also the biggest thing that I saw here is the valuation of TSI! It's fair market value based on assumptions made and from an independent expert says that 25% of TSI is valued at $10m. Meaning 100% of TSI is $40m, which is around what TSN is already valued at. i know this doesn't factor in new revenue streams and growth in those new revenue streams, but I'm afraid market won't care about that much. I'm happy to be proven wrong...

Might be a good time to accumulate then...