SHARE MARKET ANALYSTS POINT OUT MORE DODGY FACTS IS ABQ ANNUAL REPORT!

A share market analyst specialising in the fast food industry has written with his take on the financial statements produced to the market for the year ending 2009.

His take - "smoke and mirrors".

Some of his observations include:

a- Acquisition of Villa & Hut is resulting in massive losses for the company and contributing to the cash burn.

b- The payment of a dividend is nonsense under the current situation. Ploughing this half-cent a share into marketing for the core brands (Baskin Robbins, Cookie Man) would result in far more longterm return to shareholders. The dividend is part of the "smoke and mirrors" strategy however, used when you're more interested in bringing in new "sucker" money instead of increasing shareholder value.

c- Most of the money brought in by the last float (said to pay for Villa & Hut) went instead to operational costs and bonuses for management. The continual attempts to bring in new money are clearly reaching an end.

d- The ASX is currently investigating company statements to the market, which were clearly misleading regarding the financial performance going into the year-end. It 's obvious to even the casual observer that disclosure of the massive profit collapse would have made raising more funds impossible. Several of these new shareholders (several who are well-known investment players on the Gold Coast and don't take kindly to company furphys) have lodged complaints with ASX and ASIC regarding these (Peter Graham) and (Shane Radbone) statements to the market.

e- Shane Radbone is being used as a patsy by other management to "take the heat" for the company's lies. What skills does a mediocre ex-AFL player, with no education in business or finance, bring to Allied Brands other than a fall guy? Has anyone explored his "dirty hands" with the Quiznos fraud? Wonder if he knows that gaol time can be earned for signing off on lies?

f- There is no allegation that anyone at Allied Brands has had any involvement in the murder of Sydney standover man and business manager Michael McGurk.

Keep up the good work!