IMHO when I look at the "EBITDA positive from June 2024". There is not a lot to write off each year.
Take the balance sheet for Change as at 31/12/23, There is sweet FA tangible assets to depreciate, no bank debt and a c/fwd tax loss runway for the next USD $50M taxable profit.
Condensed Consolidated Statement of Financial Position
Balance at Notes 31 Dec 2023
US$
Current assets
Total current assets 5,586,433
Non-current assets
Property, plant & equipment 283,261
Deferred tax asset 107,850
Intangible assets 6,651,539
Other non-current assets 486,898
Total non-current assets 7,529,548
TOTAL ASSETS 13,115,981
Current liabilities
Trade and other payables 902,281
Provisions 1,163,939
Lease liabilities – current 117,631
Contract liabilities 872,433
Income tax liabilities-47,924
Total current liabilities 5,056,284
Non-current liabilities
Provisions 26,537
Lease liabilities – non-current 102,567
Contract liabilities – non-current 1,021,951
Total non-current liabilities 1,151,055
TOTAL LIABILITIES 6,207,339
NET ASSETS 6,908,642
Equity
Contributed equity 50,497,323
Reserves 4,817,751
Accumulated losses (48,406,432)
TOTAL EQUITY 6,908,642
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IMHO when I look at the "EBITDA positive from June 2024". There...
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