company update, page-35

PDK,

How can the level of profitability at Moolap not matter?

They will influence financing discussions - the terms of any non-dilutionary funding will be dependent on Geelong profitability. Banks deal in facts, not blue-sky or pipe dreams.

It matters in evaluating the process profitability, and thus the validity of a global expansion plan. What level of profitability will be achieved through a global roll-out - Moolap provides the basis for this answer.

It matters in establishing management credibility & capability. Management are trying to pull off a global expansion strategy. That will not be a walk in the park, there will be unforeseen challenges. Does MHM have the management in place to adequately deal with and address these issues?

I would rather hear that Moolap is delivering $10 M profit. You could then be confident in management and that the profit opportunity would easily justify a world-wide expansion.