Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

Wow. Just $650,000 left in the kitty as of 30 June (probably now down to ~$300,000). SCU was literally teetering on the brink of insolvency. Mostly due to the fact we bled $1.1m this quarter. Not clear if these losses were entirely due to Lantene or if SCU also invested money in the SCU-RY operation. I'm assuming both because net losses from the equivalent quarter last year were much lower ($600k). That's just a guess

Overall, I found the report very opaque and confusing (e.g., disclosing that Veganburg discussions are being re-scoped, despite never having mentioned a single thing about Veganburg before or what such discussions entailed), and referring to the aquafarm being an 'on-shore' farm, despite the February release (and photos posted on LinkedIn) confirming it as an open ocean facility.

The report also contained zero strategic vision of what the company has in mind for the seagrape business. This was particularly frustrating because I know for a fact the Singapore professional investors have received detailed briefings from company representatives on this stuff. I guess us retail plebs are not worthy of such disclosure. We always seem to get the bare minimum (and sometimes even less than that)

Anyway, I doubt we'll receive further clarity on any of this stuff prior to the resumption of trade. I don't think the company cares much about us retail holders and would rather offload the shortfall to a keystone (if they can find one). Fwiw, I suspect those people wanting to average down will probably have the opportunity to snap up some cheap shares (sub-0.9c) immediately following the lifting of the suspension next month.