Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-28

The issue which continually rears its head with this mob is the inability to take a concept to the next level.

Commercialisation.

They dabble with an idea or so-called business model and it gradually all falls in a heap. The amount of cash spent over the years along with rebates is mind-blowing.

They shuffle the board around and have a CEO that is now in his 5th year - with the same commercial result.

It is difficult to get a handle on where the company is positioned with its activities. The announcements are rubbery with vague timelines and often simply disappear off the radar.

Investors are asking - what next. This latest exercise with a massive consolidation was to create shareholder value and it now seems to have sunk into the same pattern as Wangle/Family Insights. The only people making money are those on the inside. Directors/management/consultants/administration etc.

The Frugl concept implemented on a grand scale with the right technical expertise and a wide-ranging list of services and products could be a blockbuster app - but this mob struggles with a piddly budget seemingly designed to pay the salaries and fees.

How can they develop anything of note with the recent CR. It's a survival act for another 12 months.

I was a supporter of this new initiative but gradually my confidence has been eroded as the delivery slumped and the performance of Wangle/Family Insights began to rear its ugly head.

It's the same people. Have they once again hit the wall with any commercial applications?

IMO it is better they do not make any announcements at all rather than these limp efforts of the past.

Just post the numbers each month of active app subscribers/users

That will tell the story of what is happening with the Frugl app.