Ann: Quarterly Activities Report & Appendix 4C, page-14

reading that i feel like you’re living in a bizarre fantasy world outside the norms of reality. Truly through the looking glass if you think it was a good move for a company to torch upwards of $60M just so they didn’t have the risk of paying it out in a class acrion. What they SHOULD have done if they had done nothing wrong was keep on carrying on and building the business as they were. They were in a dream position of having years and years of runway at a sensible rate of investment. Any orher start up would dream of that. Instead they’ve blown the lot on enriching management (the salaries for joel ans bane are objectively offensive) and buying a bunch of businesses that are all loss-making. One quarter of cash left (if even that) and reliant on the further largesse of the capital markets is a complete farce. Dust off your rose coloured glasses before it’s too late, there’s no joy to come given where they are now at balance sheet wise. That massive spend on “product development” is mostly capitalised labour you know. It’s not like you flick a switch like with physical capex. It’s capitaised salaries and that will just bleed and bleep unless you sack your work force