On my computer atm and can cut and past so as not to reference something you will have to look up...
From the 4C -
During the March 2017 Quarter IOT completed its claim for Research & Development incentive refund. The company expects to receive AU$961,100 within the June 2017 Quarter.
What purpose would IOT have including this refund in the March quarter effectively reducing the Total estimated cash outflows by 50%? -
9.7 Other (provide details if material) – R & D tax refund (961)
9.8 Total estimated cash outflows 1,013
Is there any chance this refund will not be granted?
I understand the "new" IOT does not do research and development anymore...
The March 2017 Quarter has seen a maturing of IOT as a company. In particular, following the announcement of various changes to IOT’s strategy and personnel, IOT have focused on becoming a profit-making business rather “a tech innovator”.
This is more than creative accounting... in my opinion.
IOT Price at posting:
1.7¢ Sentiment: Sell Disclosure: Not Held
