I don't post for your amusement neither do I post for your...

I don't post for your amusement neither do I post for your education but in the absence of any skills of researching let me offer you this...

The ripple effect of this article is impactual on AHF's ability going forward with the product acquired under this company acquisition - https://www.smh.com.au/business/consumer-affairs/bellamys-bid-to-purge-baby-formula-market-of-rival-brand-nutriforme-20160519-goyyf5.html

If you are able to check Federal court filings you will begin to understand the gravity and impact and why Coles will never be a target opportunity and even sustained presence as WOW is questionable so minor retail presence in Australia at best. f you can do an ASIC search of the company you can trace the old Nutriforme product and the underlying company and its owners to the current product supposedly acquired by AHF. Lets now talk about that one and some of the claimed details...

Organic milk - take a guess where it comes from - https://www.fnutritionals.com.au/why-choose-nutriforme/flaheys-future-a-blend-of-nature-and-science. Here is a hint, it is from Europe, same as what Bellamy's was/is doing and Chris worked for Bellamy's.

Organic certification - take a guess where it is - https://www.fnutritionals.com.au/certified-organic. Here is a hint, it is in New Zealand for the processing so the product is using imported organic ingredients from Europe and blending and packing in a contract factory in New Zealand.

Do you really think Bellamy's is going to let the new form of Nutriforme persist in the market without being contested given the history and secondly that the two major retailers want to take the risk on knowingly.

Essentially AHF has purchased his skills and some importing of a contrived organic product from New Zealand for $1.5m even if it is subject to some performance hurdles. It makes Paul Morrell's placement of shares prior to the AGM last look very cheap. It brings the AHF strategy no further forward than the announcement over a year that they would go organic and boutique. So are they now going to become an import and possible re-exporter of New Zealand manufactured product if they try to get in to the Asian market (again) or are they going to try and replicate the product here using the CDC facilities and a future organic milk supply. Bellamy's will keep a close eye on this one given how the product came about in the first place and secondly even the AHF presentation lodged as part of the announcement with Peter Skene's name on it makes reference to Bellamy's (spelt incorrectly) FY17 AGM Presentation (Page 9) so now AHF is using Bellamy's research material for their own purpose as well??? Although I cant take a generalised market sweeping claim as being particularly relevant to shareholders as it is the addressable component of that market that is the only important part.

From Chris Flahey's perspective he has just closed a cracker of a deal, got himself a job again, some cash in the piggy bank to top up after the cost of the Bellamy's stouch and his period of unemployment afterwards for not much work and he must be feeling pretty smug about now. Unless the deal is conditional on AHF completing its due diligence but that's unlikely from their own past performance (e.g. the purchase of CDC and the arrangement at the half demolished plant or maybe the floppy "Happy Cow" campaign that even managed to raise a laugh or two from industry leading commentators).

There is no disclosure relating to financial performance of Flahey Nutritionals or the performance metrics imposed on the placement of the shares (1t 16 cents), even LON managed to disclose the summary financials on its acquisitions. So the future financial results will show this - at the earliest the December cash flow quarterly that is reported early in the next calendar year. The other point is the volumes they expect to bring in to the country and redistribute

I can only lead a horse to water or is it a donkey. The rest you will have to find out and figure out yourself but even the above should be enough to raise your eyebrows or maybe not as the blinkers get in the road.

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