Hi Barefoot I can't say I have dug into this but basing solely from the information you have given. Intangible by nature tends to be something not physical, and usually relates to good will. It doesn't have to have anything to do with new shares. Intangible assets are what services companies tend to run on. I mean in Velpic's case their technology and IP is worth something. They can sell it. From what your saying I assume this makes up part of their tangible assets. Not sure about the coal assets, they could be prescribing them very little value as a conservative measure in case they can't sell them or get very little return. Now we get to the intangible part. Velpic's business is to generate a revenue stream from their software. The present value of that expected revenue is what creates an intangible asset. Over time this intangible "asset" will get bigger as we begin to make more and more revenue and the present value of that expected income stream increases. This is why you can see services firms have massive write-offs when they don't own anything if they are in hard terms, they slash goodwill as earnings expectations have decreased.
Sorry this response has been a little rambling. Let me know if it helps or not and I will try be more clear if needed
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