30/04/24Quarterly Activities Report and Appendix 4C Quarterly...

30/04/24
Quarterly Activities Report and Appendix 4C Quarterly Cash Flow

Boy have these guys got some work to do !!
Everyone knows the Big boys in food are having record sales & profits, yet suppliers continue to be squeezed to comply with their required margins - as mentioned by Michael's comment: "high wastage and markdowns which PFT was required to support" these are markdowns that PFT has to credit - reducing our small margin, it's no wonder our potato & gravy has been relocated to Woolies coolers !! "Challenging market conditions" as our MD pointed out.

What stood out to me was also the loan deals to keep the lights on at PFT:
1. Shareholder Loan 12% + Options term to Dec-25 Capital Investment Loan - l wonder who was the Shareholder or Director ?
2. AMAL Security Services - an AUD $500K short-term working capital loan @ 13% Interest + Options - I noticed the N/C options are to cover their establishment fees of AUD $206500.00 What a deal {What an impost on our business}, Michael must be so short of cash and wanted to use other people's money, not his own leading by example with confidence, I guess that's why you go public eliminating personal risk.

I just hope after being on this journey since 2012, witnessing the backdoor listing of PFT, seeing the SP getting to $1.645 way back in October 2020 and now its hit rock bottom today at .044c a share, so I will finish where l started " Boy have guys have got some work to do."

ST