Gassed, with all due respect
Track was not a start up company at time of acquisition
Glossy Presentations clearly showed that Track had been improving performance revenues and earnings over many years and indicated an EBITDA of around $15m alone
IMO,
CM8 has been far too aggressive in pursing growth and now finds itself in a start up ( new company position ) needing working capital going forward..
Within 70 days Track went from upper level of expectations to lower level of expectations
DYOR
Ann: Notice of Extraordinary General Meeting/Proxy Form-CM8.AX, page-75
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