Ann: FY2018 Financial Statements, page-17

I am disappointed to read that as I verily believe even the Mangement fee was attached to positive/negative market value conditions. If they are extracting fees without accountability that rings alarm bells for the investment community on which the very bases . Wasn't the ASX formed for this reason. Notwithstanding ASIC conditions because of compliant issues.

At this stage let me say I am passive and waiting for further guidance from the company. I t would be appreciated as a shareholder.

1. Beston had thought it had concrete agreements with China.

1a. False

2. Beston thought it had a diverse business model that it could build upon.

2a. False The Diaries could not be relied upon. Hence BP Dairies pulling out.

I believe many years had been built to form that partnership. Yet BFC had to rebuild a whole strategy in respect too Dairies. And it did.

3. The original fisheries were elsewhere but ended with Ferguson who unfortunately suffered a different outcome as previousily mentioned.

3a. Lifes curve ball. But hey great companies never have these problems. You know.. the ones who make you skillions.

4. I really have no problem with a state establishing its self as a hub for all that is great about its own state.

4a. The attributes that BFC can bring to the table with its investment across the Board should be commended. While it survives the daily rigor it forms the very backbone as to why an area can lift itself up and perform beyond what is unimaginable. It leads the way for people to make investment , plant the seeds of their future and forge an industry that can sustain itself with hard work and respect.

5. Will Scorpio Meats ever make money.

5a. Insuficient information.

Philosophically I can see why they have done what they set out to do. I don't know the rest of the market appreciates that.

I look at how Europe operates. I think BFC is ahead of it's time. We don't understand or appreciate how we should make Australian Companies owners of these great assets we have.

Tiramisu