"What does this mean for us? That the company assets were worth...

"What does this mean for us? That the company assets were worth nowhere near as much as what was carried on the books?"

The following is copied from last years Annual Report. and clarifies what it all pertains to. The carrying value of Goodwill has only been written down by $4.542m and there has not been any adjustment for many years. I think it is accounting convention to apply some reality to the worth of the Company and the Goodwill component and this should be done regularly. It is patently clear that the value of the  Lockie and Amfac acquisition, its old technology and the business that came with it is no longer worth as much to Corum as we have seen over the last five years in particular. It is now all about Corum generating growth and profitability from its own new products and services and the value of the Companies Goodwill will rise again.