Ann: Shareholder Letter from the Chairman-WGL.AX, page-68

My take...

The SP is getting smashed because - despite 2 recent updates - we are still struggling to make any sense of the situation.

Here are some of the bafflements we have to contend with:

• Why are Wangle not going overseas where it doesn't have to comply with Oz laws? Tell us for Pete's sake!!!! What is the company roll-out strategy and why??? ZIP started out in India - why does Wangle have to start out in Oz?

• Why, after several months of trying to grapple with compliance, have they got nowhere - and only now are they bringing in outside help?? Really??

• Why have there been no updates to beta testing?? How big a problem have they got??? Is this compliance piece solvable?? Or are they trying to find a cure for cancer using just household utensils and the contents of Keaton Wallace's fridge?? Give us some insight into the scale of the problem and your grasp of how to fix it!!!