Thanks for the comments Blackswann (and others), your suggestions have certainly been taken on board. We are definitely listening, and I’d like to thank all shareholders for your continued support. I understand that this has been a long journey for you, and we appreciate your patience.
FY21 was a year that saw the Company go through a number of changes, and when I wrote to shareholders after taking on the role of CEO in March, I mentioned that we would be undertaking a rigorous review of the Company’s operations to put in solid foundations ahead of FY22.
So far this has resulted in changes to key personnel, a significant reduction in administrative overheads, and many other decisions that have helped improve our cost-base and our focus heading into FY22 (including the divestment of the DayaCann JV and leasing of the Wangara Facility). We're emerging as a leaner and more focused research and development organisation with two products in early stage commercialisation, and others under development.
Aside from operational improvements and advancing the products already in the Company’s pipeline, we’ve been heavily focused on exploring the ways in which we can leverage research and development synergies post the acquisition of CannPal, to build additional value for the combined Company in a cost effective and synergistic way. And now that we’ve had an opportunity to get some solid foundations in place, the focus for me is very much on our plans for FY22, which I will be sharing as they reach critical milestones. And I’d like to reinforce to all shareholders, that keeping you informed is top of mind.
Speaking of which, there were some comments earlier about using Hot Copper as a platform to communicate directly with shareholders. To clarify, I’ll use Hot Copper as a platform for providing more clarity, if required, relating to our Company announcements. But under ASX listing rules, any communication relating to future plans will need to come directly via the ASX platform. We’re also looking to upgrade our website to assist in better communication but this has been on the back-burner relative to improving our operations and moving our pipeline and commercialisation forward.
Thanks again for your continued patience and support for the Company. We remain well capitalised, and we are heading into the new year with an improved cost-base and a restructured organisation, which I believe can deliver value to all stakeholders.
Layton
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