Ann: Appendix 4E and Full Year Statutory Accounts, page-70

@82Punter it's doing the same thing to me...

Thanks for your considered post, I don't have all the dates etc at hand but what i'll say will be 80% correct.

I was pretty vocal at the time that I didn't agree with using the $825m shares as consideration as Appstab could not be valued at the $60m. I would completely agree with your logic if the deal had been sorted out in a month or two but it was closer to tow years. The original announcement said it would be wrapped up in 12 months, it took longer than that and if the deal would not have been made between related parties i'm sure it would have been revalued. It would have been better for shareholders to raise capital at the share price at the time and buy Appstab in cash.

Everyone keeps saying that the goodwill right off is non cash so it doesn't matter but discounts the fact that:

• The write off of goodwill indicates we paid too much for the asset this created unnecessary dilution for shareholders
• We acquired $3m+ of ATO debt from appstab that you could argue were trading insolvent

I'm going to haver a proper read of the fin stats over the weekend.