Ann: Appendix 4E and Annual Financial Report-SRF.AX, page-30

Reposting post above with wording change because HC mods don't understand that 'read' can be past tense.

God-DAMN.  I just read (A FEW MINUTES AGO) this doc in a bit more detail.  Ever seen a worse train wreck?  I don't recall one.  Like for like revenues static but matching opex is through the roof.  Can't make acquisitions work at all.  Horrible financial engineering attempt with the $20m, which was not only BS to begin with, and then fell apart, it's now got them on the receiving end of $10m+ in lawsuits.  Simply astonishing cash outflow.  Margins falling badly because their stuff is always on sale.  COGS higher than revenue.  Class action mooted.  Just...no.  NO.

London to a brick trade data for today shows the online brokers as heavy net buyers.  That's the dumb money, my friends.