Ann: Half Year Report and Accounts, page-8

No

I don't agree with anything other than your first 2 sentences. Terrible result and spend is crazy.

However...

The Chinese market for wine, especially original Australian wines, is growing exponentially.

The company's value, as I saw it, was in the fact that they had proved they could source appropriate wines, had the storage and logistics in place, had the the online shops starting to hum, all payment methods locked in and most importantly, the connections in China to do all this and get deals like the Alxa Festival stitched up.

But marketing appears to have ceased, wine selection dwindling and, like I said, TMall fan numbers retreating rapidly.

So the failure is of management not being prudent with funds and relying too heavily on the outcome of possible commercial deals that, at this stage, did nothing but keep us in an unnecessary suspension for weeks and weeks and distract them from their stated market.

It's a really simple equation now. Clinch such deal(s) and we thrive.

Don't, and we will be raising at something like 0.5c, diluting us all to oblivion.

Milesy