Some interesting data from the financial reports - this from a...

Some interesting data from the financial reports - this from a company that says it is growing!

All figures in $

Consumables Separations Software Financial Year

1,490,610 683,516 229,422 2010

979,734 404,131 415,845 2011

(1,248,914) (367,070) (222,348) 2012 (6 mths)

1,822,791 372,363 354,271 2012 full year

Growth over 2 years approximately

22.2% (45%) 54.5%

However, the 2nd half performance in 2012 was abysmal! This business and its various categories is not a cyclical business so we should expect to see 'continued growth'!

The 2nd half performance for 2012 compared to the 1st six months was:-

46% 1.4% 60%

One would expect to see 100% plus for the 2nd 6 month period. There has been no comment by teh board on the poor sales performance and what is being done to correct the issue.

This is just another issue that I felt was necessary to raise to further understand the poor performance of this company.

Corporate Governance is lacking with this company.

Vote AGAINST the remuneration report.

Regards..................