And this is from the 2016 annual report:
"Review of Operations
The company was placed into voluntary administration on 28 July 2008 and subsequently placed into liquidation on 23 December 2008. A Deed of Company Arrangement (DOCA) was entered into on 12 March 2014. The Company was released from the DOCA on 27 November 2014. The net profit for the year ended 30 June 2015 of $75,041,240 was mainly due to “Write-back of payables on settlement of DOCA” amounting to $76,272,483.
The company was reinstated on the ASX official list on 14 September 2015 after completing a prospectus fund raising and acquiring Stemcell United Pte Ltd, a Singapore based biotechnology company. The book value of the acquisition was $38,500,000 which consists of consideration of cash payment of $2,500,000 and $36,000,000 in shares (120,000,000 shares at $0.30 per share), thereby giving rise to a goodwill of $37,877,992. Due to a change in regulation in China, the resina product is no longer able to be sold in its current state. At year end of 30 June 2016, the company undertook an independent valuation of the goodwill which re-valued the goodwill at a fair value of $4,439,871. This resulted in an impairment loss on goodwill of $33,438,121."
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