BUD-LifX The Future, page-177

Both Buddy and LIFX have been thrilled with the messages of support and congratulations from major retail and platform partners, subsequent to the LIFX Announcement. Buddy and LIFX are pleased to provide the following updates to shareholders:

• LIFX has achieved a “best-ever” January in 2019, with last month being the first January in thecompany’s history to exceed over A$3.4 million in…..

ASX’s best ever chief marketer (to shareholders) CEO is at it again. Superlatives galore, more promises, more hope. Let the record speak. The update was necessary to support a flagging sp.

LIFX reiterates that it is targeting achieving profitable operations in CY2019 and the Company
notes that unaudited revenues and EBITDA for Q2FY19 were A$17M and A$284k respectively
(before any contractual reductions for out-of-the-ordinary matters).

EBITDA positive alone (if that is what is inferred) is not enough. BUD needs at least $12m net profit (inclusive of BUD and LIFX) by my calc to sustain its MC post completion of exercise.

And to those still whinging and do nothing, its true as I learn from experience to have courage to cut loss (remember: with time, a dog of a stock will show you more fleas). This deal is sold as but not the makeover shareholders are hoping for.