Yeah I agree its going to be material. I have finally made some time to go through it in detail and its not pretty. Write offs increasing 3-4 faster than growth. Its likely the fast growth is masking the true danger of this bad debts situation. Probably why the CFO and CEO have jumped (been pushed).
Regardless, price is pretty beaten down and not much expectation is baked in
I'm sure there is a lesson in here somewhere. . .
Ann: Management Update, page-23
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