Ann: March Quarterly Activities Report, page-278

"What would a better business decision have been?"

To my mind, the answer here is: not 'invest' in IDSB, and keep the cash for what they said they were actually going to use it for: BNPL. I have critiqued the acquisition a lot over the months following the deal (I sold down on the day of the ann. and then sold out completely in the months afterward) so won't repeat it, but my main points are here:

https://hotcopper.com.au/posts/57464378/single
https://hotcopper.com.au/posts/57469289/single

IDSB hasn't delivered anything tangible to date (aside from a 2.5% return on the A$21M spent) and its purchase has forced IOU into this uncertain position.