The 4E is subject to AASB requirements. No ifs ands or buts about it. It's in the first page of the 4E notes if you don't believe me.
AASB 3 requires that they disclose what the contribution from JCT would have been for Xped's full fiscal year, as well as what their contribution was from the date of acquisition (as this is the amount that rolls into the P&L). Which means - they are required to disclose JCT from acquisition date of 4 July, and they are required to disclose JCT results from start of the Xped fiscal year, 1 July.
Their use of the word pro-forma - fine doesn't really matter and I'm not actually arguing about that and we're wasting time arguing about that.
What was in question by Gravity, and what I was answering to- was: why are they saying JCT's contribution since "January 2016" 18 months ago? And if that is actually their contribution since January (18 months worth), why are those amounts the same as their contributions since 4 July (12 months worth)?
The note disclosure is required to have been from July - and that is an absolute fact. Read AASB 3 disclosure requirements - it's pretty explicit in there.
Contributions since January are irrelevant to anything. And since contributions from 1 July are required to be disclosed- and the amounts are the same as the contributions since 4 July - I think it's a fair assumption that the "january" date was meant to be July.
If you're so dead set on it January being the correct date in that note - then questions for you would be:
Where is the required disclosure on contributions since 1 July?
Why are the contribution amounts from January the same as the ones since 4 July. Wouldn't 18 months worth of JCT trading yield a different result than 12 months?
Why on earth are they telling us JCT contributions from January 2016 through June 2017 (an 18 month period)?
XPE Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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