I believe that the issues with this company, I can't comment about the current chairman, all derive from the previous management. I can't believe how accountsa that were signed off in September of 2008 for 30 June, which showed assets of $35mil, saw all those assets impaired as at December 31 2008.
To me this shows something funny with the assets as at June 30. Now the real question comes from the disclosed $9.7mil receivable due from Optus in the June 2008 accounts. This was impaired at December. Now real question is was this ever real? Or was it accounting sleight of hand and were the former auditors Deloittes complicit also?
SRA Price at posting:
0.1¢ Sentiment: None Disclosure: Held
