Ann: Non-Cash Impairment, page-19

yes seems like a tax move. what confuses me is how a company thats now worth 315m US with cash and assets worth 203m US can write off more than the non cash component.

They simply dont have enough non-current assets to write off that much..

But this is all expected when a new CEO comes out.

The only positive is the restating of the cash numbers 176m + 27m assets reinforces that we are paying only 165m AUD for 1 working asset and 2 prime assets. Cheap as chips even if the board continues to care little about the retail shareholder.