Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-73

I too am a long term advocate for TNT.

But I believe comments from TNT a couple of years ago about bullet trains and being on track to $200M revenue didn’t help when following published results showed reported revenues substantially below statutory revenues. I’m still confused about that difference.

Then capital was raised from instos at 21c on the back of a broker’s report - with that broker being given the job of attracting the capital.

So when the results didn’t come up to expectations, I think the market demonstrated its lack of trust.

And at the moment the ASX is reporting revenues at $113.5M and a net loss at -$8.78M.

So I can’t see the price increasing until TNT wins back the trust, particularly of the instos, by continuing to post markedly improving results. Starting with a profit.

The AGM will be interesting.

Could be wrong, and IMHO