Top Growth Stock 2015, page-11

the big things that stick out are:
1. big Admin costs in Aust, compared to US. I guess all admin staff located in Aust, listing/compliance costs/ audit/acctng etc/travel etc. travel costs would be huge, because senior mgt does need to spend much time o/s. But all the sales action is in US. So I wonder what the breakup of Aust admin is?

2. Statutory loss of $3.49m is understated - it really is double that - $6.76m - because there has been an F/X gain of $3.273m.

3. with admin costs of $5.29m it means the setup costs of getting Yowie business going, will cost big $ in 2016. Because they are hiring more people (sales mktg staff), so all the attendant costs of sales, mktg, promotion etc will increase big time.

4. inventory costs with rise, because now that they are rolling out to Walmart, and hopefully to more big Tier 1 retailers, they are going to need to fund increased production, inventories etc.

Not a problem --- just the cost of investing in a startup business.

the first couple of years are the hardest.

sales revenue will lag the cost of production/mktg/sales etc.

still sounds like a good business. Am happy to keep holding.