I find it very difficult to believe the company could've paid a...

I find it very difficult to believe the company could've paid a partially or fully franked dividend but chose not to. You're telling me noone in the company knew they could wait or go into deficit?

You're accusing me of not knowing corporate tax or how to read a financial statement. Even I could tell you that if they had to pay tax on FY22, they would've paid a franked dividend during FY23. Don't tell me professionals at the company chose to withhold franking credits from shareholders.

If we go back to my response: "The table says "taxpayers whose 2022 tax return was taxable". TER was not taxable in 2022." They have not paid tax in every year of their operations, otherwise they would already have a franking account surplus.

None of your "solid facts" have helped explain company actions.