Just one example. 70% ANMA was purchased for $14 mil. They sold 5% to Sunnya minority holders for $1mil. So they ended up with 65% for $13mil. Here is what went on the Jatcorp books.
Australian Natural Milk Association Pty Ltd (ANMA)
"In October 2019, Jatcorp Limited acquired 65% of Australian Natural Milk Association Pty Ltd. Goodwill of $9,650,067 was recognised on the acquisition date based on valuations performed by an independent third party commissioned by management. In addition, import Licence of $13,631,200 was recognised as a result of the acquisition."
So just a quick look shows paid $13 mil, on the books at least $23 mil intangible on top of whatever else they purchased in the way of ANMA assets.
GLTAH DYOR
Ann: Trading Halt, page-92
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