From page 21...Following the company entering voluntary...

From page 21...

Following the company entering voluntary administration in November 2023, the Administrators have attempted to maximise the return for all stakeholders by selling the consolidated entity’s assets. This includes the sale of the Aqua Phase intangible asset and the Administrators believe, based on negotiations with potential purchasers, that the Aqua Phase asset can be soldfor an amount of approximately $400,000. The estimated fair value less costs of disposal is categorised as a Level 3 input under AASB 13. These negotiations are ongoing at the date of this report.

The consolidated entity has impaired its Aqua Phase intangible asset as at 31 December 2023, impairing the value of the asset by $1,546,283. This has resulted in a reduction of the carrying value of the asset from its cost of $1,946,283 to its fair value less costs of disposal of $400,000. The impairment has been recognised in the Corporate segment in note 2

It was the potential (or the promoted potential) of Aqua Phase that was my main buy-in reason for BOD. If sold I'm sure it would fetch more than than $400k it's on the books at. So much evidence based potential looks like being unrealised by whatever this entity becomes.

The only hope now seems to be how well they can do with their sleep study data and S3 TGA product registration