Ann: FY22 Full Year Results Presentation, page-13

Yes thats the logic i applied. Now I haven't tried to forensically analyse but a 170 mil uplift in good will seems high given Brainshark total cost was 115 mil and presumably at least some of that were net tangible assets. Not to mention goodwill on the balance sheet is now around 80% of the total assets of BTH.

I also couldn't get comfortable that the company is virtually invisible with very few customer reviews despite claiming to be a market leader, where as its competitors seem to have these in relative abundance by comparison.

Goodluck to holders but i hit the exits yesterday after mulling it over in the weeks since the annual report.