"Just remember, that they will be paying $3 mill away in tax....

"Just remember, that they will be paying $3 mill away in tax.
Milesy"

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I'm curious why there should be a $3m tax bill on
the $12m sale proceeds when there are accumulated losses
of $6.1m losses at Bsht 30/6/13-see below.

Capital gain on sale ? @ 30% = ?

Contributed equity 11,395,760
Share option reserve 583,089
Accumulated losses (6,104,413)
Total equity 5,874,436