Ahh yep gotcha. I see what you mean, as in those acquisition costs were accounted for in the prospectus and should have been covered by that capital raise. Agree.
It was clear that the $1.5m payment was still outstanding when reading through the annual, it is commented on in a few sections though primarily as a contingent liability.
I do not agree with it being classified, and tucked away, as a contingent liability. It should have been front and centre on the balance sheet.
In terms of legal ramifications I assume that those in charge would have the leisure of leaning on the business judgement rule.
Ann: Trading Halt, page-29
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