Ann: AHF to produce Organic Infant Formula with Australian Milk, page-73

I am amazed at the upramping based on a single announcement. Hey don't get me wrong, the strategy could be very right, but the execution of the leadership team over the past 2-3 years has been appalling.

Take a look at the announcements over the past 2 years. For example on August 25, 2017 they forecast an EBITDA of $1.75 - $2.2 million. Six months later they report a half yearly loss of $886,000 on $10 million of revenue. Revenue down and loss also reduced but given the cash burn of $1.5 million per annum, plus the costs to go Organic, today is not the day to buy.

As a medium term investor, today was an opportunity to exit - I'm out.