Ann: Strandline Completes $33.8M Institutional Placement, page-17

This isn;t about having the last word, but I want the record straight while you're going about saying I haven't taken responsibility for my own actions, hissy-fit, precious whatever. I accepted "mea culpa" early on, I tried to catch the falling knife knowing ramp-up was going poorly and Luke was playing down troubles for many months. Taking responsibility for my own actions doesn't preclude evaluating the actions of others and calling out misleading behaviour where it exists.

Rewind 3 months and the debate was entirely between the bulls who believed what Luke was saying about ramp-up issues being minor and ramp-up on the improve, and myself and a few others saying the facts said otherwise. There is a whole thread of HC investors who believed Luke's messaging both in public release and private conversations. This is a fact, recorded on HC for posterity, there is no question problems were played down and guidance talked up right up until the trading halt Friday. Late last week you the following, very different to today's sanctimonious tune...



The quarterly was sheet on every metric, $50m Cr from last year pretty much vanished, 6-9 months and another $30M headroom to be sure it gets fixed.... no way was the build-up of that long term damage possible for the market to read, stop pretending otherwise. You're free to be as forgiving and happy about how things went down as you like... Just don't patronise me like I don;t know how it went down, or what it means to investors who weren't selling out that last 2, 4, 6 weeks before the inevitable CR hit.

People have to earn respect, and they keep it or lose it with their actions in my book. Guessing it's not just HC but many in the market disagree with your happy pill perspective... nothing says No Trust or Respect like selling down a heavily discounted, over-subscribed $33M CR another 10% in the first 2 days. Then again, they all probably just chucking a hissy-fit and blaming everyone else but themselves when it's all good, just chill, right