Ann: Recapitalisation Transaction, page-15

I should have done the same, but didn't until after the annual report in Oct.

I finally pulled out of this stock the instant I noticed the situation with the deferred tax asset in the 2021 balance sheet. Coupled with the fact that they were still trading at a loss, with no immediate prospect of a turnaround... well let's just say I was very surprised that the auditor signed off on it. I felt lucky to actually get anything back at all.

I just had a look at their half year report and noticed that they have now de-recognised the deferred tax asset and admit to having negative equity.

How a company makes it back from this position I have no idea. It will be interesting to see, but I'm watching from the sidelines now. This stock rates as my hardest investment lesson learned so far.