Disaster

What a joke...Olsen starts out by saying "dear its been a tough year but hey we only made a net loss of over $800k"...$800k are you kidding me?? This is a small craft brewer and they only picked up that they were losing money in the later stages of FY2015 but have only implemented strategies to arrest the losses even then Olsen doesn't say they are heading for a profitable year only that their earnings may improve. That guy has to go...to put that in the annual report is a joke after they massively stuffed up the year prior and they have run out of money...fully drawn debt facility and running at a loss.. only $1.6m in cash left and to really throw it in the face of the shareholders Olsen increased his pay by almost double???? Are you kidding me??? and finally ANZ would of closed shop on Gage as Gage had breached their loan covenants..lucky we have Olsen there so he can himself more and keep the doors open for another 12 months!!