http://www.arnnet.com.au/article/399199/anittel_loses_19_9_millio...

http://www.arnnet.com.au/article/399199/anittel_loses_19_9_million/

The link also quote comments made by Kazacos regarding the loss:

"The goodwill is a non-cash position, so recovering from it is not a huge problem because most of the loss is non-cash," Anittel managing director, Peter Kazacos, said.

I think I know what he was trying to infer in that writing off the goodwill as an accounting journal entry and did not result in an amount going out of the bank account.

However the AYG shareholders did pay for that goodwill through either cash or diluting their own shares with new issuances. Writing off goodwill still reflects lost $$$$$ for the shareholders.

Kazacos's comment is a tad flippant and does not really give an accurate view of how bad it is to write off a number that large for goodwill for a company that small.......not that I would any management to actually state anything other than silver linings.