They have paid 1.9mil AUD for a company that does turnover of...

They have paid 1.9mil AUD for a company that does turnover of approximately 1.2 mil AUD.

I am sure with that many employees, it will not be profitable. 31 employees even at AUD 50K a year will chew up more than 1.5 mil in wages. Forget all the expenses on top. Rent, equipment, slippage, mismanagement etc etc. BIG ZERO.

That is in no way good value. If you give it to a business broker to flog it, you wont get 500k. No wonder they accepted at 12.5c when market is at 3c.

This is all looking smoke and mirrors. Big gamble being taken. Loose money, it is all OPM
Other People's Money.

Amos