Great to see AU1 finally achieved a "Maiden" NPAT... shame we...

Great to see AU1 finally achieved a "Maiden" NPAT... shame we have all been diluted into insignificance through so many capital raisings!

Plenty of spin in the (externally prepared media company) slides I especially note:

1. a 'big tick' awarded for 'Net assets a 34% growth" this is because of the massively discounted placement with no rights for existing shareholders whatsoever! ..let's be honest management had painted themselves into a dire financial position where this must have seemed like the only option!

2. Long-term funding package- no mention of the heavily diluted existing loyal shareholders. Every second year there has been a massive issue... that was a long-term funding package!

3. "The Agency's shareholders have overwhelmingly supported". ... Magnolia did everything it could to stop it, anyone that was not receiving fat salaries or excessive commissions got no choice ...

.. what a disaster dressed up as a miracle!