Ann: Redflow Investor webinar, page-16

So you don't think the company should have enough capital to expand sufficiently to be able to be profitable?

So far as I can see in the Risks section on page 30, #1 risk listed is around defects and quality control. Perhaps the California Energy Commission checked after the year of operation before they considered committing more funds, or the City of Knox, they've had a couple of installations up and running since early 2019 at the Knox Children and Family Centres at Wantirna South and Bayswater and they allowed more to be installed not that long ago? Surely no other ASX listed businesses that make stuff could ever face that risk, could they? And what about all the other risks over those 5 pages of Investment Risks?

Just imagine, any company making stuff with computer chips in them, with many of the worlds chips coming out of Taiwan, now that's risk of various sorts. Couldn't find that specific one in the list or I didn't look hard enough, maybe there are no Taiwanese chips in a ZBM3.

Getting back to investment risks, maybe, just maybe management had a chat to the largest shareholder at some point in the last year or so? Perhaps not, could just be a next step for expansion.

Anyway, regardless of your opinion, or mine, these are the reasons proffered for the 10 to 1 consolidation.


From page 24 of https://wcsecure.weblink.com.au/pdf/RFX/02586741.pdf

At present the current CR is only available to existing holders. Any leftovers will be available. I'm quite certain any institutional investor will carry out due diligence. However as the fine print indicates there may be other options, at least one of those was mentioned by the CFO in the webinar.

No I did not vote in favour of the consolidation but this is where we are now.