I had a look at the contracts in the annual report SRF.I'd say...

I had a look at the contracts in the annual report SRF.

I'd say your correct about the 3 and 6 month termination periods. The amount to be paid to Dr Jenny could date back to 1999 when she co founded the company a few years before it went public in 2004, 3wks x 12 years maybe 200k-250k.

I also noticed something in the performance rights rules which would prevent executive directors from participating in rights issues.

The accumulated losses before the company listed in 2004 were about $60m for 4 years. There was a $20m ipo priced at $1.20 underwritten by Patersons for 17m shares out of a total of about 100m. The price opened at $1 valuing the company at $100m - not sure if the guys who participated in the ipo ever had a chance to get out breakeven or better.

There's a subsection on tax losses page 48 of last years annual report stating a potential tax benefit of $30m at 30%.

"A tax asset will not be recognised until it becomes probable that the tax consolidated group will obtain the
benefit of these losses, because:
(i) it derives future assessable income of a nature and of an amount sufficient to enable the benefit from the
deductions for the losses to be realised, or
(ii) the losses are transferred to an eligible entity, and
(iii) the tax consolidated group continues to comply with the conditions for deductibility imposed by tax
legislation, and there are no tax legislation changes that adversely affect the ability of the consolidated tax
entity to realise the benefit from the deductions for the losses."

Maybe an accountant can clarify if that $30m is worth anything (probably more now) and which companies would qualify as an eligible entity for losses to be transferred. Would a potential beneficiary have to be in the same sector for instance?