Ann: Half Yearly Report and Accounts, page-8

Given TGA no longer has any goodwill in the balance sheet, if net tangible assets really is $1.22, management should acknowledge their incompetence and the share market's view (via SP) that this company has no future and arrange for an orderly liquidation of the company. I think this would be in the best interests of the shareholders, rather than the company trading on as usual, and slowly destroying shareholder value.