Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-10

last year they spent almost AUD 20.5 m to generate AUD 37 m of revenue. They are smart in this area and usually they reduce marketing expenses to reach profitability.

in 2022 when china cracked down on Ali Baba T mall, they stopped marketing completely and despite the revenue dropped to AUD 15 m, they achevied profitability of AUD 1.5 million .

as far as they remain profitable, I do not mind investing in organic growth to expand their revenue and earnings rather than making silly acquisitions.

the only thing I do not like is the AUD 13 m sitting in the bank for long with no real use. we are waiting for manufacturing facility since the IPO but given the cost of their production is low, I prefer them to continue to manufacture their products outside house to avoid extra cost of production facility and employing people with the extra cost that comes with.