Of more concern is the $20m of intangibles attributed to C Billing which is the model that has been "suspended" or is running down or whatever.
Did they write off enough?
Thought I saw that they want to flick Clipp yet no impairment there either.
I know some people think that EBITDA is the be all and end all. But when you are dealing with companies who don't have widgets to sell and instead have big $$$$ intangibles, you need to look very very closely at the return of those intangibles. $20m for something that is allegedly on the shelf?
It has to be brought to account sooner rather than later.
They need a truly independent board.
MBE Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held