Some weeks have past since the last announcement, where from memory a team of consultants had been selected and were going to be TFLs saviour. Management haven't updated shareholders on the anticipated cost for the consultancy services or what they hope to glean from the forthcoming report! Or the actual cost benefits of this expenditure! Clearly I've missed something here, why does a $25m ish company have management on board, that us the shareholders pay their salaries too that cannot steer the ship.
TFL seems to wallow along like a rudderless ship, finding and pounding its way through every high sea, with this performance clearly reflected in the SP.
As I see it; Share price is currently static between $0.09 - $0.098, someone has ground this down......
Dairy is steady and generating some revenue. Revenue will plateau without additional milk suppliers being added.
Chicken has been earning a dollar with the production numbers reduced due to COVID. Feed costs had increased, so overall scraping by. One, understands chicken is in short supply on the east coast.
Wasabi has taken hit for sometime for various reasons. Anyone ever thought about putting into a tube, like other producers? Australia imports some tubed wasabi from Japan! Manufacturing and buying Australian products you would think, would be paramount in these challenging times.
Write downs are now complete.
So with all the worst case situations and scenarios having been presented in recent times, you'd think TFL is poised for a bright future. Then again, this is TFL, operated as a cloak and dagger operation from Tassie, where directors are exceptionally well paid and shareholders are left wondering what's going on!
Come on BOD, it's time for action, if that's too high of an expectation, how about an update on what's really going on! Something factual and not regurgitated like other reports appear to be. Just as I wrote that, something else sprung to mind. Reports appear to be a regurgitation of the previous year, there's no updates to shareholders, the business is small and wallowing along, based on the reports presented. What does the management team actually do???
TFL Price at posting:
9.6¢ Sentiment: None Disclosure: Held
