Ann: Annual Report to shareholders, page-16

Purpose your assessment is pretty well spot on, the Millions of shareholders funds raised have taken the company nowhere.

Any debt facility would have to be in realistic parameters to allow the company to get past first base. Forget Fiji which will only be a continuous drain on the companies cash flow and profits. Announcements over the last 3 years have been all over the place, there were to be 5 farms then there were to be 2 farms to start with the other 3 to follow then lo and behold there was to be $150M to include 5 farms and Fiji. Sounding like no set plan nor direction.

Say that approximately $34M would be required to purchase 5 dairy farms and have them fully operational with stock and plant a safe scenario would be 35-40% equity($11,900,000) with $22M debt which would be easily serviced if operated correctly, but $34M debt facility(5 farms) or $150M debt facility(5 farms and Fiji) would be nothing short or a road to disaster and unsustainable.

IMO DYOR