Ann: 3Q24 Quarterly Cash Flow and Activities Report, page-2

OK, guidance unchanged, that's great, but they are STILL BURNING CASH, and this is for the first full fiscal year AFTER the 3-year fixed price fiasco ended on June 30, 2023. And why is AMA still burning cash for now the 4th year in a row? Because Suncorp thinks that's what a good partner should do, burn cash so that they can report record profits. And AMA mgmt and board is apparently too afraid of their great partner to take a stand.

And this asinine sugar-coating has got to stop. I had thought the convoluted almost Orwellian attempts to re-word negative disclosure items would have ended with Carl's departure. Instead, it continues unabated and maybe even worsened:

AMA's press release today: "As a result, total cash flow is now only expected to be positive for FY24 after including capital expenditure and net benefits of equity raising and debt repayment."

How about being straight-forward: "As a result, the company will not produce positive free cash flow in FY24 as previously forecasted."

Stop talking to your investors like their idiots to be duped. It's enraging, and it's not helping your share price as it's been going on relentlessly throughout the 90%+ stock price decline of the past 3 years...

One of the large shareholders has got to step up here and sue the former board and Suncorp to get back AMA's $400 million. Until then, the rip-off continues...