Ann: Appendix 3B, page-23

Good precises of the state of events.

Para 1, They should at least be receiving some sort of income from the biological assets. Why on earth would you fork out near on $300k on High Index cattle and have them remain on an adjustment arrangement until the farm purchase is complete, all in the Directors Report announced on 4/2/18 in the 1/2 year report ended 31/12/16.

Tad confusing or is there something else here that we are all missing. The term used Adjustment, have they confused this with agistment or is there to be a reduction in the purchase price of the farm if and when that may come to fruition. Should have been a lease agreement so as the company would be at least being receiving some revenue from its outlay and no costs.
Numbers never disclosed, very scant details but female numbers should have increased by 100% on the the initial number soon to be approaching 2 years ago.

One would expect plenty more to play out for shareholders and investors in the coming months, such a sad and sorry state of affairs.

IMO DYOR