Yes, well I have found the answer to one of my questions concerning Germany and research etc. Buried deep in the annual report was this gem. Obviously closing down Germany was not considered important enough to mention to the investors?
PATRYS LIMITED ABN 97 123 055 363 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2015 PATRYS LIMITED – 2015 ANNUAL REPORT
35 Movements in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year Plant and equipment at cost: Balance at the beginning of year 251,115 287,281 Additions 1,824 - Disposals (2,775) - Depreciation expense, impairment and asset write off (i) (170,391) (44,442) Foreign exchange movement (939) 8,276 Carrying amount at the end of year 78,834 251,115 (i) In June 2015, the Company made the decision to close down its German based operations. The value of plant and equipment at the German facility has been accessed and an impairment writedown of $71,808 has been made.
Hard to generate patents when there is no science going anymore....shame that all of that has been lost.
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