“there is now convincing evidence of sufficient future...

“there is now convincing evidence of sufficient future taxable
profits in the forecast period to utilise the recognised deferred tax asset''
So says the company for bringing onto its balance sheet a DTA of $21m
Importantly, this has been done without qualification by the auditor.
So, over the forecast period of 3 years the company is effectively forecasting pre-tax profits of at least $60m .
And that wont, or should not, include any settlement arising from the PwC proceedings.
Though this statement should be addressed:
Other than as set out in this Prospectus, Pioneer is not currently involved in any material litigation,
arbitration or proceedings
Should we conclude that the claim against PwC has been abandoned? if so, why has this not been the subject of an ASX announcement?