Ann: Half Yearly Report and Accounts, page-16

Hi Noonster

I agree it is a very poor result. However, I am not surprised (post 17 Dec 2018 #36885881 - I attended the SLC AGM and the one thing that worried me was that the CEO seemed like he was right into all the technology but not so much into the profitability/viability of the company. They had only just appointed a new CFO who was across the issue of the squeeze on cash flow. In regard to a question about cash flow, there was not a straight forward response, which did not inspire confidence. Maybe that has had something to do with the share price fall.)

The situation is certainly not terminal, provided Morgans can get the capital raising away successfully. However, I agree with you and other posters that SLC will probably trade at a significant discount to the CR price of $1.25. On this basis, I don't think I will be taking up my shareholder entitlement either. Management needs to put the cheque book (if they still own one) away and get stuck into selling product and cranking the revenue up.

Regards Westwind