AUS INDUSTRY AND ATO UPDATE The Company remains of the view that the R&D claims were made in compliance with the applicable legislation. The Company is working closely with Ernest & Young representing Argent in the AAT Proceedings. The Company negotiated an ongoing payment plan directly with the ATO in January 2020 agreeing to pay $5000 per calendar month until the AAT Proceedings are concluded. The ongoing discussions with all stakeholders for a suitable outcome for Argent remains positive and it is anticipated a settlement will be forthcoming in the next quarter. The Company has made repayments to the ATO for $71,418.24.
Will be nice to see the end of this, hopefully next Quarter
ARD Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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