Ann: AHF Strategy Overview - Webinar Details, page-80

Looks like some unhappy campers from the webinar. The posts after the webinar indicate to me there was no real clarity on what the strategy actually is, farm ownership and future intent is still obfuscated.

Someone stated they are not looking to raise any capital which tends to indicate no M&A activity but possibly JV-type arrangements only where others provide capital and in the meantime they are going to try and redeploy existing capital (i.e. exit farms) they have for short term product based opportunities and no discussion occurred outside of the content of the strategy update. So much for horizontal integration which also indicates they will lose provenance as a differentiator and milk segregation will become a conversation piece of the past. No matter what they do here, eject farms and bio-stock to a separate company or a farm cooperative or a CBG the differentiation is gone.

Someone posted something about Lian He and Tianmei may not be pursued but just parked for now makes me wonder why they do not acquiesce the current non-binding agreements and advise the market to put those ones to rest rather than leaving everyone wondering. Also I wonder about the property at Camperdown they acquired as not commentary on that one and that was hinged on Lian He funding.

Looks like any financial discussion was avoided but a defensive response to production capacity was put forward. Perhaps using a metric based reporting dashboard would be appropriate about now with relevant metrics that do not confuse shareholders or allow wiggle room for interpretation.

Will review the Webinar with a fine toofy-comb when it gets lodged with the ASX in coming days.

They are going to need some cash soon so maybe they are talking to Bell Potter for a small placement within the 15% (or 30m shares or $3.0 - $3.5m) range to shore things up until the AGM and their ongoing "nod nod wink wink" deals are more defined and binding.