Re: The ~$1.4M Re: “As at the date of this report, the Company...

Re: The ~$1.4M

Re: “As at the date of this report, the Company has elected not be proceed with the joint venture
and the Company will endeavor to recover these funds.

As a consequence, the Company has fully impaired the amount paid at 31 December 2018 resulting in an impairment expense of $1,408,660.


“Impairment (financial reporting)

From Wikipedia, the free encyclopedia. An impairment costmust be included under expenseswhen the book value of an asset exceeds the recoverable amount. Impairmentof assets is the diminishing in quality, strength amount, or value of an asset.”