I think there are some significant issues. Their trade...

I think there are some significant issues. Their trade receivables are $23.7m compared to a half year revenue of $59.3m. If that is representative of their full year revenue. If we are generous and say their revenue will be $120m their debtor days are 72 days. I always learned that that is telling. If customers aren't paying you are either doing something funny in your accounting or people aren't paying as they don't like the service you are offerring. Can't see significant provisions for doubtful debts as well.

They have net assets of $214m but acquisitions based on $259m valuation. Not sure that is representative of their value now.