My take on Treasure's "chocolate bar" and the "nibble off each end before it's sliced" is that ACL management are running the rule over one or both of:
(1) amount of debt; and
(2) COGS
as it is these numbers that determine the size of our 50% share.
This has been in my mind for sometime as the only thing that could explain the delay in an announcement (in terms of ACL management wanting to give absolute certainty to the market about what it had or had not received and whether it agreed with those numbers) .... as mentioned in a previous post, the downside to this approach is short term uncertainty created by the original expecation given by management of income pre-30 June
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audeo oncology website, page-37
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