Australian Nutrition & Sports Limited

Anyone know much about this one? Saw it on the ASIC site. Haven't gone through prospectus properly as yet, so no verdict from me, but skimmed over these points.

*Infant and adult milk formula, dried dairy, protein supplements (CNCA cert)
*25-40m shares at 20c each. 50m existing shares. Market cap $16-19.5m on listing (non-diluted).
*Alexander Molyneux among directors (isn't his focus more mining?)
*PAC Partners leading the float (last gig was FIJ if I'm not mistaken?).
*Multiple agreements signed
* Heavy losses, which widened despite revenue growing
*CEO salary has jumped from $54k to $150k to $253.2k across FY17-FY19
*CFO pulling in $200k as well (combined, CEO/CFO salaries more than sales revenue to date)
*Performance rights targets based on growing revenue, albeit two tranches based on a threshold EBITDA of -1.5m and then $0m....(is that suggesting they may run at a loss even with significantly higher revenue?)
*As an aside, probably the shortest "letter from the board" intro I've ever seen in a prospectus