From early Jun22 when they made the decision to stop stuffing the wholesalers shelves they have hád time to correct this. This practice of shelf śtuffing has been happening since FY21 at least (just in time for the Aug21 capital raise). Revenue recognition principles are pretty simple unless you are incompetent or trying to deceive, an overstatement one period is reflected in the next period as an understatement. They claim they had adjusted for shelve stuffing in Jun22, ie massive revenue hít. So the only issue should be FY21 shelf stacking impact, which should have washed through FY22. Can’t take Jun22 to Oct22 to report this, not on the CFO salary and incentives" intangible are calculated based on a revenue/stock type formula, so revenue has taken a hit' $30m in Jun22, say 15% for year, so intangible should fall' but not massively. I suspect they are going to write down GoTo to minimise future obligations to miss Zoe.
BWX Price at posting:
63.0¢ Sentiment: Hold Disclosure: Held
