report tonight, page-32

TOX did a standard acquisition, which was very straight forward from an accounting perspective.

QTK did a reverse acquisition, which has a whole lot of complicated accounting issues on a consolidated basis (which make the consolidated accounts look absolutely nothing like the parent entity accounts). To let you know what they need to do ..., the consolidated accounts will make it look like Multi-Trak acquired Quiktrak, rather than what actually happened legally which was Quiktrak acquired Multitrak.

It is not straight forward, and is probably one of the most difficult accounting issues to deal with. It is totally opposite to how it was accounted for in Australia previously.

People have absolutely no idea about the difficulties companies (and auditors) have faced with the transition to International Accounting Standards.

I have no interest in Quiktrak (except that I use their system in my car).

Regards
Marvin