does nbs have responsible management?, page-3

Re FX

The debtors are not denominated in AUD

Then paid, they will be paid in USD and MYR

Since 30 June the AUD has strengthened to such an extent that NBS will be receiving 10m less than was anticipated at year end date.
(Calculations in my previous post)

10m is approx 22% of net profit!!

This is very material and should have been specifically highlighted IMO



re Options

If they had been issued at 75c (rather than 50c) in the first place they would not have had such a large expense associated, since they would have been so far out of the money - this was wasted bottom line P&L for NBS.
Once cancelled, the expense can not be written back.
(I am still waiting for someone to confirm my point on options since while I think I am correct I am not 100% up to date with latest accounting standards on this one)


No question in my head the 10m negative variance on FX should have been separately disclosed as material post-balance sheet event.