Ann: Trading Halt, page-96

Not quite from what I have seen.

Jatcorp eventually purchased only 65% of ANMA. Some information provided by JAT on ANMA at the time had this.

"About ANMA

ANMA owns and operates a 5,000m2 manufacturing facility on 8,000 m2 of land in western Melbourne equipped with state-of-the-art processing lines specialising in handling infant formula milk powder and other dairy products."

Jatcorp purchased 65% of this factory and paid 13Mil. Check out what it costs to buy land and build something like this.

With this purchase they were ably to put on their books 65% of the factory asset (probably worth at least $13mil), plus a further $23 mil in intangibles. A total of around $36 mil including intangibles. A lot of this intangible was written down last financial year. This comes straight off company taxable income making the taxable income, or profit and loss look bad for those that don't understand intangibles. A similar situation occurred for Jatcorp's share of Golden Koala and Green Forrest. Sunnya is still firing enough during Covid to not be able to justify a write down to their auditors.

GLTAH DYOR