Hi Kimho22
Wattle is currently exporting 12,000 tins of IF to Vietnam per month and the demand is for more. The contracts for IF to China are many and large with Walmart China and COSCO. SMRA approvals come in batches of approximately 30 companies and it is expected that Wattle will be in the up-coming batch. On the 8th March 2018 Wattle received qualification and certification for IF but is still waiting for registration. The restructure of CFDA earlier in the year which ultimately resulted in CFDA merged with SMRA, has already seen hundreds of applications delayed by 4-6 months. I believe the Director Lazarus Karasavvidis is overall making the right moves for the future. He did make the mistake of not organizing for a major holder to exit when it was required at the time of the last raising at $1.25. This was the reason the share price retreated to below the raising price and this overhang still exists. I also feel his salary is too high at this stage of the company's development. When FMG was making a similar income in 2004-5 Twiggy Forrest was only taking $100k p.a. In Lazarus's defense he has worked to set up this company for a number of years without drawing any salary.
