A seemingly solid business with good growth prospects being...

A seemingly solid business with good growth prospects being drowned by ridiculous expense levels. Still learning in this investment game, another important but crappy lesson learnt.

Surely the major shareholders will be demanding better. But then again, reading the report you see that one of the deferred purchase payments was knocked down from $1m to $200k due to claimed breach of warranty.

"The deferred consideration of $3,000,000 for the acquisition of the Macquarie Medico Legal business was payable in two tranches, $2,000,000 as at 30 June 2016, and $1,000,000 as at 30 June 2017. The first tranche was paid on 28 July 2016. The second tranche of the deferred consideration was reduced following the settlement of a warranty claim against the seller and a final payment of $200,000 was made on 29 June 2017"

Make of that what you will....