Ann: Updated Appendix 4E-EHE.AX, page-104

Its down 50% in 6 months & showing no sign of slowing - actually the opposite, the falls are accelerating.

Trust me, sticking your head in the sand & praying that you're right & everyone else is wrong will only backfire...

These are the headwinds:
- Hedge Funds doubting the model's effectiveness
- Large number of shorts & climbing
- Upcoming legislative headwinds with largely unknown impacts
- The wider investment community now questioning the accounting practices (specifically the treatment of the RADs)
- Change in business focus from acquisition to organic growth
- Queries about the sustainability of the company's debt limits
- Potential CR overhanging the stock due to potential debt limit breach
- Founder Resigns
- Founder dumps his entire stake at $3.15 (10% then discount) due to it being leveraged
- Negative feedback loop with respect to brokers capping / limiting / withdrawing margin lending on the stock
- Lot of investors now under water due to it being at all-time lows
- Management staying quiet while the SP continues to fall
- Stock making lower highs & lower lows with no clear support on the chart anymore

This is just off the top of my head ... but yea ... everything is ok