"Not fantastic, didn't make it to $11m which was top end of...

"Not fantastic, didn't make it to $11m which was top end of guidance and pretty much confirmed they are expecting a loss 2nd half."

It is not only a "not fantastic" update, but it is almost meaningless without any additional qualifying commentary.

For example, what were the main drivers of that $10.5m figure?
What was the sales growth in the half?
The like-for-like sales performance?
The Gross Margin?
Admin expenses?
Lower depreciation?

For all we know, they might have achieved their revised guidance figure by simply deferring a whole lot of expenditure, for which they would then need to play catch-up in subsequent financial periods.

And its not as if this kind of information would be considered commercially sensitive in the context of the current takeover bid, because in a little over a month's time, we will get to see all these relevant details, anyway, when the company will present a full set of its audited financial statements for the half-year.

So why not, as an act of transparency, provide some clarity around that $10.5m figure?

This company's management treats the owners of the business with utter contempt.