Look at slide 43 of the investor presentation: "Fair value gain on investment" (which can always be written off in the future and really nothing but fluff) of $47.5m, I don't even know how one would come up with this number other than pulling it out of thin air... EBTDA would have been a massive blowout (from $-6.5m to $-55.1m!!) from the previous year without this 'creative' and 'convenient' accounting!! resulting in Earnings before Tax of a whopping near $70m loss! (compared to previous years $11m) a few slides later cash operating costs are going up faster than receivables, and the outlook section is nothing but 'ambitious goals'... no idea when they'll actually start generating instead of burning cash ... wow this is bad!
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- Ann: FY20 Appendix 4E Preliminary Final Report
Ann: FY20 Appendix 4E Preliminary Final Report, page-49
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