Thanks RedWolfUW. The CFO has acknowledged receipt so I'm hoping...

Thanks RedWolfUW. The CFO has acknowledged receipt so I'm hoping for some answers and cash flow break even of course

Let's see how many get answered. Mallcop tune out now...

Question 1

QFE APPENDIX 4E and Annual Report FY22

Please provide specific detail on cash bonuses paid to board members and senior managers:

a) Bruce Coombes $200,000 – total remuneration $595,065

b) Simon Yeandle $100,000 – total remuneration $582,341

c) Eric Lookhoff $206,660 – total remuneration $848,956 - resigned

Question 2
Q1 FY23 business update

“On 5 August 2022, the Company announced that there had been no change to the remuneration of Dale Smorgon, Bruce Coombes, or Simon Yeandle as a result of them assuming those responsibilities. The Board has now determined that Dale Smorgon will receive additional remuneration of $15,000 per month and Bruce Coombes and Simon Yeandle will receive additional remuneration of $7,500 each per month for the performance of their respective CEO responsibilities, from 1 August 2022 to 31 December 2022.”

a) Please explain this backflip

b) Why does the board (two of whom directly benefit from additional remuneration) consider additional remuneration prudent when all three beneficiaries enjoy significant salaries and fees, cash bonuses, share options and performance rights?

Question 3
Company updates continually state achieving cash flow breakeven as a key goal. Poor optics aside, explain why the board does not see cash bonus payments and additional remuneration contradictory and hampering this goal?