Shane Radbone - stood down as CEO. Peter Graham - stepped down...

Shane Radbone - stood down as CEO. Peter Graham - stepped down as managing director....all in the last couple of weeks. ABQ's problem is lack of cashlow and it's options to top up cash flow through other means is becoming limited. Lets' run through them. 1. Springtree pumping in more cach - I don't think so. 2. Banks permitting an increase in borrowings - extremely unlikely 3. Slashing operating costs, sacking staff and closing loss making stores - have no choice but to pursue this option for survival. 4. Capital raising at 3 cents - very dilutive but don't rule it out just yet - that will be the final throw of the dice. Plan going forward.1. Close Awesome Entertainment immediately. Re focus Awesome Water so it makes money i.e why dont the introduce a copy cat Pura Tap division - those guys replace my filter each year a take $80 from me. Baskin Robbins - handle very carefully as one of the few divisions performing and keeping the company alive. Kenny's Cardiology - name sounds like something from the 70's - tired and old brand - no surprise 15 stores being closed down. How did Smiggle's sneak in ? Why don't Allied brands have a Smiggle's or a Boost Juice which Janine Ellis recently sold 75% for $80 million ? I think that's a reasonable question to ask if these guys hold themselves out to be the experts in brand development and management. Villa & Hut has good potential with the caveat that the market is very crowded. Cookieman - one trick pony.

ABQ is likely to end up as a much smaller company that it currently is so it can survive. It desperately needs new killer brands going forward which managment appear to be incapable of sourcing or creating. First things first though and thats survival