Ann: Appendix 4C - quarterly, page-3

Agree.

They need to get some more of that core debt down before June 19, at which point it starts to become interest bearing and I'd much rather this came from surplus cash than a CR. Need a big second half!

Strategy wise, I am not entirely surprised to hear that Amazon's entry hasn't been as rosy as management thought. I had genuine concerns that the Amazon platform would provide a more level playing field for competitors and bring margins down (I voiced these concerns last year, and still have them).

But this M2C thing is exciting. I particularly like that it has required essentially zero capital to establish, very little if any working cap, as I still don't have a lot of faith in management's ability to integrate a business and achieve synergies.

Like you, I wish we were provided with some more details on the investment case and the route to market for the products. I also hope that our small team of support staff will cope with the after-sales support; if we muck that up it could unravel pretty quickly.

But if executed well it could be a game changer for this little company.