I'm going to ask what may be an obvious question.I'm a bit...

I'm going to ask what may be an obvious question.

I'm a bit confused by the millions of goodwill impairment and other write downs and what it means for the company.

If I'm not mistaken, goodwill is intangible, but it seems like it is being recorded on their last income statement as a loss just as if the same amount of cash had disappeared. On their operations they made a gross profit, but the $21 million in goodwill impairment more than offset that.

Can someone with more accounting knowhow explain this?

Like the rest of you I'm frustrated by recent developments in the share price and I'm mentally preparing myself for the worst when considering the current capital raising. I got in initially at 17 cents when it dropped through the floor all of a sudden, and then reinvested more in the 30s and was considering selling recently. The current news caught me by surprise and makes me wish I had sold.