Ann: Appendix 4C - quarterly, page-20

it is not a question of ignoring the "facts" - it is just that these "facts" are selectively presented, and presented in a deceptive manner.

notably, for example, the "Old Management" were the perpetrators of the Sales forecasts which are now subject to potential Litigation.
The "Old Management" were the originators of the arrangements and actions which brought about the legacy litigation with Whetsone.
it is the "Old Mgt" which will be the subject of that litigation, not then new mgt and board.
The "Old Management" were the ones who were paid exorbitant salaries and share bonuses.
It is the new, current mgt which is trying to resolve the various litigation, has reduced overheads (which are yet to flow through, reduced salaries, reduced staffing levels, and trying to expand outlets, to reduce reliance on Walmart. The "Old Mgt" were the ones which concentrated sales via the Walmart channel. It would have been the "Old Mgt" which negotiated a sales agreement which allowed Walmart to receive those stock refunds.
It is the new mgt/board which has replaced the voracious old board, with new retail experienced, non-executive, and independent directors.

Yes the SP is s...t
yes the sales growth is disappointing
Yes there is no profitability yet, and cashflow negative.
Yes can probably do more to excite the market about Yowie chocs
- but the new board and mgt are endeavoring to clean up the problems left by the "old Mgt'.

When they get it right, the SP will follow.