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Ann: Appendix 4D, Half Year Accounts and Strategy Update, page-11

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Lombard1

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22/02/19

21:46

Post #: 37538387
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Originally posted by MajorJohnny: ↑

Revenue up 12 % on previous year but Net Loss is up 221 % ,

The Group incurred an after-tax loss attributed to members of $3,504,477 for the half year ending 31 December 2018 (31 December 2017: loss of $1,091,134). The increase in loss was partially due to the one-off, and now concluded, litigation with Ikon, including payment of the adverse judgement of $939,055 plus interest and legal fees. The Group has also incurred additional employee compensation expenditure as part of its strategy to strengthen the leadership team and expand the consumer health business across all markets.

I find the information in the below url particularly infuriating , have a read and make your own judgement , such a terrible decision to go to court yet Cellmid employees have been financially rewarded .

https://mumbrella.com.au/hair-care-brand-suing-ikon-for-failed-campaign-believed-it-was-going-to-be-a-smash-court-told-540297

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They may have paid the Ikon adverse judgement and interest + booked a provision for Ikon legals but they haven't yet paid the Ikon legals so expect to see more cash out the door in the next 3 months or so.

How did the CEO get awarded about $150k of shares for 2018 as a bonus weeks after the Ikon judgement?

CDY Price at posting: 26.0¢ Sentiment: Sell Disclosure: Not Held
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