You make very valid points regarding COGs v Employee & Admin Expenses. As you mention 350k would seem far too excessive and I agree based on your explanation.
I wasn't intending to discredit the CFO's ability to thoroughly read a balance sheet if that's how my commentary came across. My concern (and maybe I should stop harping) is whether the $1.1mill NPAT is transferable to an expectation of seeing that improvement in Laserbond's NPAT.
You make very valid points regarding COGs v Employee & Admin...
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