I've got no dog in this race; I'm only professionally interested. But don't count your chickens before they hatch, I caution. I think, too, that if there is a problem with rev rec then it's limited and an honest mistake. But you don't know until you know. There's half a sniff that something could be dodgy, even though I think the odds are very, very slim.
But the larger issue is the disclosure problem. There was 42% drop (so I've read, I haven't actually worked it out for myself) on the Feb 8 announcement. Them ain't small potatoes. It's a real issue. Even if it's a beat-up on the GSA, the share price has only managed to recover about a third of the drop. The market certainly thinks it's material. Very material. I suspect it's very unlikely that the ASX response will be a simple "You've been a very naughty boy!" I wait curiously to see what the result is.
IMO; DYOR
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