What do you see as the bull case for this stock?New mgmt team...

What do you see as the bull case for this stock?

New mgmt team has made headway with cost reductions, but 95% capital destruction and ~$100m in accumulated losses since IPO is a big hole to try to climb out of.

Even after the farm sale and slight debt reduction, interest + rent costs will have gone up.

There's a further 10% dilution baked into the options being issued which will keep a lid on the share price. I expect to see mgmt incentive rights to get reset closer to current prices aka more dilution.

They're in a discretionary sector at a time when the average punter is getting belted by the cost of living everywhere, rates aren't coming down anytime soon.

The last set of financials stopped reporting income from branded products vs packaging separately, from previous 4c's it looks like they are experiencing a 10% fall in booze sales aka their main products.

It's hard to see this one turning green