Ann: AHF to produce Organic Infant Formula with Australian Milk, page-224

Thanks.

In regards the hidden fees/costs. I have done my own analysis as has a couple of other posters and essentially all have come to the same conclusions but to have it spelt out would take a forensic audit as the chairman is also the owner of the business that does all the accounting, administration, company secretarial services (through a contractor) and accounts reporting for the compan(ies) and trust(s). It took me over 9 months to piece it together and some others probably a lot less but one poster here as offered more information than anyone could reasonable expect about the costs and how they are treated but even this is their own interpretation. So the best thing to do is investigate yourself and see what you come up with.

As for trading the shares at whatever price the market affords I might offer that is the best approach if you can catch the wave but to believe it is a deep intrinsically valuable investment for anything else is fraught with danger and history is a good guide. As is the history of TAU (now trading as JCC on the NSX after a sell-off on non-AHF related assets).

In regards products, those products you quoted are primarily the commonly known retail products and there is another world underneath retail products that afford a far greater return than flogging deeply discounted supermarket products. Yes, IF is a lucrative market to be in on the back of a explosive demand from China and other Asian countries but it depends on which end of IF you are in and the likes of BAL, WHA and a few others have got that model right. AHF is just at the wrong end of the value chain and at the wrong time and trying to span the entire value chain as a vertical integrator is capital intensive and they aren't in a position to secure sufficient capital to give it a decent go.

Suffice to say, trade it for all it is worth but I notice the volumes have come off seriously from the flurry of activity straight after the announcement and wonder how the buyers of mid-20's are feeling at this point.

They have seriously blown up past shareholder goodwill (not only IPO holder but 59 cent spike buyers as well) and I suspect the fresh rounds of new shareholders goodwill is fading fast as the price settles back in to the mid-teens.

I think there is potential in AHF but some basics need to change before that potential is able to be unlocked.